{"success":true,"data":{"pressRelease":{"id":"23295","rtpr_id":"nGNX4r4Y7J","ticker":"WTW","exchange":"NASDAQ","all_tickers":["WTW"],"title":"Willis and Cornell University launch partnership focused on correlated catastrophe research","author":"Globe Newswire","published_at":"2026-05-06T13:00:01.396Z","article_body":"LONDON, May 06, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW),\ntoday announced a new scientific partnership with researchers at Cornell\nUniversity and the Atkinson Center for a Sustainable Future\nto identify evolving threats from correlated natural catastrophes. The\nresearch, funded by WTW through an initial one-year funding agreement, will\noffer insurers and reinsurers new insights into the synchrony of major perils\nand its potential effects on the industry’s collective exposure to\ncatastrophic losses.  \n\nCatastrophic natural hazards cause large losses for insurers and reinsurers,\nso the industry pays close attention to aggregate behavior of tropical\ncyclones, wildfires, severe convective storms, and other leading perils. The\ninsurance sector relies on geographic diversification to reduce its collective\nexposure to natural catastrophes, assuming that major catastrophes are not\nlikely to occur in the same year in different parts of the world.\nHistorically, peril-to-peril correlations have been weak, and statistical\nmodels do not generally justify holding additional capital to guard\nagainst the possibility of multiple, synchronized catastrophic events. \n\nBut what has happened in the past may not remain the same in the future. The\nEarth’s climate is changing, and we do not yet know how this affects\ncorrelations across perils. Through this collaboration, experts at Cornell and\nWillis will examine whether major perils have already become more correlated\nin the present day and model the expected evolution of correlated catastrophes\nover the next one to five years. At Cornell, the research will be supported by\nthe Atkinson Center for Sustainability and carried out by Dr. Jonathan Lin,\nDr. Toby Ault, and Dr. Flavio Lehner in the university's Earth and Atmospheric\nSciences Department. \n\nScott St. George, Head of Weather and Climate Research for the Willis Research\nNetwork, said: “In a changing world, we can’t afford to look only in the\nrearview mirror. Geographic diversification has served the insurance industry\nwell in the past, but if catastrophes become more correlated, that strategy\nwill no longer be valid. Our partners at Cornell will help us determine the\ntrue risk of correlated catastrophes in the present day and get prepared for\nthe possibility of greater synchrony in the near future.” \n\nCameron Rye, Director of Natural Catastrophe Analytics for Willis Re, said:\n“Understanding how multiple natural perils may align in a warming world is\nbecoming increasingly important for reinsurers, who have traditionally\nmodelled the risk from different perils independently. By combining\nCornell’s cutting-edge research with Willis’s deep industry experience,\nwe can give our clients clearer visibility into evolving catastrophe risks and\nsupport more resilient decision-making.” \n\nProf. Toby Ault, Associate Professor in the Department of Earth and\nAtmospheric Sciences at Cornell University added: \"We're excited to work with\nWTW to translate cutting-edge climate and atmospheric science into\nactionable insights for the insurance industry. Our research has shown that to\naccurately assess correlated risks in a changing climate, one needs to\naccount for the chaotic nature of weather through large ensemble simulations\nand physics-informed statistical analysis. By combining our expertise in\ndrought research, climate variability, and hurricane risk with WTW's industry\nknowledge, we can better prepare for the complex climate risks of the future.\"\n\nAbout WTW \nAt WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the\nareas of people, risk and capital. Leveraging the global view and\nlocal expertise of our colleagues serving 140 countries and markets, we help\norganizations sharpen their strategy, enhance organizational resilience,\nmotivate their workforce and maximize performance. \n\nWorking shoulder to shoulder with our clients, we uncover opportunities for\nsustainable success—and provide perspective that moves you. \n\nAbout Cornell University \nCornell University is an Ivy League and statutory land-grant research\nuniversity located in Ithaca, New York. Founded in 1865, Cornell is\nconsistently ranked among the world's leading academic institutions, with\nstrengths in atmospheric sciences, engineering, and environmental research.\nThe university's Department of Earth and Atmospheric Sciences is\ninternationally recognized for its leadership in climate science, drought\nresearch, and applied climatology. \n\nAbout the Atkinson Center  \nThe Atkinson Center for Sustainability supports interdisciplinary research on\nclimate risk and resilience, helping translate Cornell’s\nacademic expertise into practical insights with real-world impact. \n\nMedia contacts\n\nJo Barrett\nJo.Barrett@wtwco.com / + 44 7940 703911\n\nLauren Ryan\nLauren.Ryan@wtwco.com / +1 845 598 4895\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d60448c5-44c1-4061-a525-161810e55c26)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4r4Y7J","title":"Willis and Cornell University launch partnership focused on correlated catastrophe research","author":"Globe Newswire","ticker":"WTW","created":"2026-05-06T13:00:01.396Z","tickers":["WTW"],"exchange":"NASDAQ","article_body":"LONDON, May 06, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW),\ntoday announced a new scientific partnership with researchers at Cornell\nUniversity and the Atkinson Center for a Sustainable Future\nto identify evolving threats from correlated natural catastrophes. The\nresearch, funded by WTW through an initial one-year funding agreement, will\noffer insurers and reinsurers new insights into the synchrony of major perils\nand its potential effects on the industry’s collective exposure to\ncatastrophic losses.  \n\nCatastrophic natural hazards cause large losses for insurers and reinsurers,\nso the industry pays close attention to aggregate behavior of tropical\ncyclones, wildfires, severe convective storms, and other leading perils. The\ninsurance sector relies on geographic diversification to reduce its collective\nexposure to natural catastrophes, assuming that major catastrophes are not\nlikely to occur in the same year in different parts of the world.\nHistorically, peril-to-peril correlations have been weak, and statistical\nmodels do not generally justify holding additional capital to guard\nagainst the possibility of multiple, synchronized catastrophic events. \n\nBut what has happened in the past may not remain the same in the future. The\nEarth’s climate is changing, and we do not yet know how this affects\ncorrelations across perils. Through this collaboration, experts at Cornell and\nWillis will examine whether major perils have already become more correlated\nin the present day and model the expected evolution of correlated catastrophes\nover the next one to five years. At Cornell, the research will be supported by\nthe Atkinson Center for Sustainability and carried out by Dr. Jonathan Lin,\nDr. Toby Ault, and Dr. Flavio Lehner in the university's Earth and Atmospheric\nSciences Department. \n\nScott St. George, Head of Weather and Climate Research for the Willis Research\nNetwork, said: “In a changing world, we can’t afford to look only in the\nrearview mirror. Geographic diversification has served the insurance industry\nwell in the past, but if catastrophes become more correlated, that strategy\nwill no longer be valid. Our partners at Cornell will help us determine the\ntrue risk of correlated catastrophes in the present day and get prepared for\nthe possibility of greater synchrony in the near future.” \n\nCameron Rye, Director of Natural Catastrophe Analytics for Willis Re, said:\n“Understanding how multiple natural perils may align in a warming world is\nbecoming increasingly important for reinsurers, who have traditionally\nmodelled the risk from different perils independently. By combining\nCornell’s cutting-edge research with Willis’s deep industry experience,\nwe can give our clients clearer visibility into evolving catastrophe risks and\nsupport more resilient decision-making.” \n\nProf. Toby Ault, Associate Professor in the Department of Earth and\nAtmospheric Sciences at Cornell University added: \"We're excited to work with\nWTW to translate cutting-edge climate and atmospheric science into\nactionable insights for the insurance industry. Our research has shown that to\naccurately assess correlated risks in a changing climate, one needs to\naccount for the chaotic nature of weather through large ensemble simulations\nand physics-informed statistical analysis. By combining our expertise in\ndrought research, climate variability, and hurricane risk with WTW's industry\nknowledge, we can better prepare for the complex climate risks of the future.\"\n\nAbout WTW \nAt WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the\nareas of people, risk and capital. Leveraging the global view and\nlocal expertise of our colleagues serving 140 countries and markets, we help\norganizations sharpen their strategy, enhance organizational resilience,\nmotivate their workforce and maximize performance. \n\nWorking shoulder to shoulder with our clients, we uncover opportunities for\nsustainable success—and provide perspective that moves you. \n\nAbout Cornell University \nCornell University is an Ivy League and statutory land-grant research\nuniversity located in Ithaca, New York. Founded in 1865, Cornell is\nconsistently ranked among the world's leading academic institutions, with\nstrengths in atmospheric sciences, engineering, and environmental research.\nThe university's Department of Earth and Atmospheric Sciences is\ninternationally recognized for its leadership in climate science, drought\nresearch, and applied climatology. \n\nAbout the Atkinson Center  \nThe Atkinson Center for Sustainability supports interdisciplinary research on\nclimate risk and resilience, helping translate Cornell’s\nacademic expertise into practical insights with real-world impact. \n\nMedia contacts\n\nJo Barrett\nJo.Barrett@wtwco.com / + 44 7940 703911\n\nLauren Ryan\nLauren.Ryan@wtwco.com / +1 845 598 4895\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d60448c5-44c1-4061-a525-161810e55c26)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-06T13:00:01.446126926Z","server_sent_at_ms":1778072401446},"received_at":"2026-05-06T13:00:01.498Z","source_url":null},"analysis":{"id":"17954","press_release_id":"23295","analysis_json":{"industry":{"label":"Insurance","sector":"Financials"},"redFlags":[],"eventType":"partnership","narrative":"Willis, a WTW business, launched a one-year research partnership with Cornell University to study correlated natural catastrophes.\n\nThe collaboration aims to model how climate change affects the synchronization of major perils like tropical cyclones and wildfires.\n\nFindings will help insurers and reinsurers better understand collective exposure and improve resilience planning.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Research partnership launched to model correlated climate risks."},"keyFigures":{"customDimensions":{"funding_duration":"1 year"}},"quotedText":"In a changing world, we can’t afford to look only in the rearview mirror.","namedEntities":{"people":[{"name":"Scott St. George","role":"Head of Weather and Climate Research for the Willis Research Network"},{"name":"Cameron Rye","role":"Director of Natural Catastrophe Analytics for Willis Re"},{"name":"Dr. Jonathan Lin","role":"Researcher, Cornell University"},{"name":"Dr. Toby Ault","role":"Associate Professor, Cornell University"},{"name":"Dr. Flavio Lehner","role":"Researcher, Cornell University"},{"name":"Jo Barrett","role":"Media Contact"},{"name":"Lauren Ryan","role":"Media Contact"}],"products":[],"companies":[{"name":"Willis","ticker":"WTW","relationship":"subsidiary"},{"name":"WTW","ticker":"WTW","relationship":"primary"},{"name":"Cornell University","relationship":"partner"},{"name":"Atkinson Center for a Sustainable Future","relationship":"partner"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Strategic research partnership to enhance modeling capabilities, but does not directly impact current financials or operations."},"tickerRelevance":{"others":[],"primary":"WTW"},"globalImportance":20,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"strategic-partnership","sectorWeight":"financials"}},"event_type":"partnership","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Willis, a WTW business, launched a one-year research partnership with Cornell University to study correlated natural catastrophes.\n\nThe collaboration aims to model how climate change affects the synchronization of major perils like tropical cyclones and wildfires.\n\nFindings will help insurers and reinsurers better understand collective exposure and improve resilience planning.","key_figures":{"customDimensions":{"funding_duration":"1 year"}},"named_entities":{"people":[{"name":"Scott St. George","role":"Head of Weather and Climate Research for the Willis Research Network"},{"name":"Cameron Rye","role":"Director of Natural Catastrophe Analytics for Willis Re"},{"name":"Dr. Jonathan Lin","role":"Researcher, Cornell University"},{"name":"Dr. Toby Ault","role":"Associate Professor, Cornell University"},{"name":"Dr. Flavio Lehner","role":"Researcher, Cornell University"},{"name":"Jo Barrett","role":"Media Contact"},{"name":"Lauren Ryan","role":"Media Contact"}],"products":[],"companies":[{"name":"Willis","ticker":"WTW","relationship":"subsidiary"},{"name":"WTW","ticker":"WTW","relationship":"primary"},{"name":"Cornell University","relationship":"partner"},{"name":"Atkinson Center for a Sustainable Future","relationship":"partner"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:6c7fa2f5e3b62e83","schema_hash":"sha256:ee8f711bc9bfba0d","created_at":"2026-05-06T22:31:44.740Z","global_importance":20,"audience_relevance":25,"importance_components":{"tickerTier":"large-cap","eventGravity":"strategic-partnership","sectorWeight":"financials"}},"durationMs":null,"modelName":"glm-4.7"}}