Willis, a WTW business, has appointed Steve Hutchinson as the new head of property and casualty (P&C) for Hong Kong and Macau, effective May 2. The move comes as the insurance industry adapts to a shifting global risk landscape.
Hutchinson will lead the firm’s P&C operations across both regions and will report to Iris Chan, who heads corporate risk and broking for Hong Kong and Macau. He brings over 20 years of experience in insurance and broking, having held senior positions in the UK and Asia. Most recently, he served as chief broking officer at Howden Insurance Brokers in Hong Kong.
Welcoming Hutchinson to the team, Chan said the hire reflects Willis’s strategy to strengthen its presence in key markets.
“We are thrilled to welcome Steve to Willis. His extensive experience and deep understanding of the market will bring fresh perspectives and innovative solutions to our P&C business in Hong Kong and Macau,” Chan said. “We are confident that Steve’s leadership will enhance our ability to deliver exceptional service to our clients.”
Hutchinson replaces Phil Timms, who is transitioning into a new role as managing director for large account clients in Hong Kong. In this position, Timms will focus on improving service for major corporate clients.
Industry Trends and Strategic Shifts
The leadership change at Willis comes amid significant developments in the global P&C insurance sector. According to Aon’s Q4 2024 Global Insurance Market Insights report, capacity has increased for certain well-performing property risks. However, insurers are still cautious when it comes to areas vulnerable to natural catastrophes.
In the casualty market, conditions vary. Some segments are seeing a softening of rates, while others – especially those tied to U.S. litigation risks – continue to face upward pricing pressure.
Aon also reported that excess liability lines are experiencing steady premium growth. Legal and regulatory issues such as social inflation, nuclear verdicts, and rising environmental liabilities are contributing to that trend. Insurers are tightening underwriting on emerging risks like PFAS, resulting in broader exclusions in policy terms.
These changes are prompting more companies in Asia to explore alternative risk solutions. Risk managers are increasingly turning to captives, structured reinsurance, and parametric covers to handle volatility and manage complex exposures more effectively.
Willis Expands in India with New Aviation Appointment
As part of its wider leadership refresh in Asia, Willis has also appointed Anant Pawar as head of aviation and space insurance in India. Pawar brings more than 27 years of experience in aviation, liability, and reinsurance.
He previously worked at Global Insurance Brokers Private Limited, where he helped develop an aviation insurance consortium focused on India and supported Lloyd’s underwriters entering the market. At Willis, Pawar will lead efforts to grow the aviation segment, providing broking and advisory services tailored to the evolving risks of the aerospace sector.
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