Willis, a WTW business, has announced a strategic partnership with the University of East Anglia (UEA) aimed at deepening the insurance sector’s understanding of global wildfire risk, as climate change continues to escalate the frequency and severity of extreme events.
The collaboration merges WTW’s expertise in catastrophe risk modelling and insurance analytics with UEA’s leading research in climate and fire science, spearheaded by climate expert Matthew Jones. The joint effort will focus on examining the evolving nature of wildfires — including shifts in frequency, intensity, and geographic reach — and assessing how these changes may affect insured assets and risk portfolios.
Wildfires have increasingly emerged as a primary driver of insurance losses. Major events such as Australia’s 2019–2020 “Black Summer” fires, which resulted in insured losses nearing US$1.5 billion, and the 2025 Palisades and Eaton fires in Los Angeles, with estimated damages of US$40 billion, have elevated wildfire risk to a core peril in many regions. The growing intersection of high-risk fire zones with densely populated and high-value areas has significantly increased insurers’ exposure.
The insights generated through this research will support the development of more robust underwriting strategies, improved risk selection, and enhanced pricing accuracy. Additionally, the findings are expected to inform future product innovation and portfolio management in wildfire-prone markets.
Jones also co-leads the State of Wildfires Report, an annual global assessment of extreme wildfire activity. The report evaluates risk trends under future climate scenarios and explores mitigation strategies, including forest management and land-use planning.
This partnership marks a critical step in equipping insurers and reinsurers with the scientific insights needed to navigate an increasingly volatile wildfire landscape.
