Willis, a WTW business, has appointed Steve Hutchinson (pictured) as head of property and casualty (P&C) for Hong Kong and Macau, effective May 2.
The leadership shift comes at a time when insurers and brokers are reassessing strategies in response to changes in the global risk environment.
Hutchinson will oversee P&C operations in the two markets and report to Iris Chan, who leads corporate risk & broking for Hong Kong and Macau.
His appointment follows more than two decades in the insurance and broking industry, with prior roles across the UK and Asia, most recently as chief broking officer at Howden Insurance Brokers in Hong Kong.
According to Chan, Hutchinson’s appointment reflects the firm’s focus on strategic alignment in key geographies.
“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. We are confident that Steve’s leadership will enhance our ability to deliver exceptional service to our clients,” she said.
Hutchinson succeeds Phil Timms, who will move into a new role as managing director for large account clients in Hong Kong, aimed at strengthening engagement with major corporate policyholders.
The leadership changes coincide with broader shifts in the global insurance market. Aon’s Q4 2024 Global Insurance Market Insights report noted that while capacity has increased for certain well-performing property risks, insurers remain cautious in catastrophe-exposed regions.
In the casualty sector, mixed trends persist – some areas have seen softening conditions, while others, particularly those involving US litigation exposure, remain under rate pressure.
Aon also highlighted that excess liability lines continue to see premium growth, with legal and regulatory factors – such as social inflation, nuclear verdicts, and evolving environmental liabilities – playing a significant role. Insurers are applying tighter scrutiny to exposures such as PFAS, which have led to broader policy exclusions.
For risk managers in Asia, these developments are prompting a shift toward alternative solutions. Captives, structured reinsurance, and parametric covers are gaining traction as organisations seek to manage volatility and maintain control over complex exposures.
Complementing its regional leadership reshuffle, 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 markets. He previously held senior positions at Global Insurance Brokers Private Limited, where he contributed to developing an India-focused aviation insurance consortium and supported the market entry of Lloyd’s underwriters.
In his new role, Pawar will be responsible for driving growth in the aviation segment, offering insurance broking and advisory services tailored to the evolving risk profile of the aerospace industry.
