Reinsurance News

Aon acquires Tyche actuarial software platform

1st March 2022 - Author: Katie Baker

Aon plc has acquired actuarial software platform Tyche from technology and software firm RPC Tyche, which will provide re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business.

Tyche is a specialist in developing customised risk and capital modelling software for actuaries, quantitative analysts and risk teams.

It serves global clients that include some of the largest life, non-life, and composite insurers and pension firms, as well as leading professional services providers.

Nick Frankland, chairman of Aon’s insurance consulting team, said: “This innovative new offering, combined with our existing global capabilities, will help to bring significant value to Aon’s re/insurer clients and deliver new software and consulting solutions to previously underserved markets.

“As our clients face increasingly complex risks and evolving regulatory requirements, Tyche’s expertise is designed to underpin insurers’ decision-making frameworks.

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“We are thrilled to welcome Tyche’s nearly 140 colleagues to Aon as we share a commitment to innovating on behalf of clients.”

Alun Marriott, managing partner of Tyche, said: “Tyche has built a highly respected and utilised range of risk and capital modelling platforms and consultancy services, and combining with Aon can take us to the next level in terms of capabilities, distribution and delivery. By uniting our passion for technology-driven insight, we will bridge gaps and enhance solutions to benefit clients.”

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