Reinsurance News

Aon Benfield

Aon names Marcell CEO of new Reinsurance Solutions division

31st May 2018

Global broking powerhouse Aon has announced that Andrew Marcell has been appointed as the firms Chief Executive Officer of its new Reinsurance Solutions division, effective immediately. Aon recently announced a rebranding of its reinsurance broking unit Aon Benfield to just Aon and has split its operations into new Solutions divisions, one ... Read the full article

Misalignment of expectations entering Asia-Pacific renewals: Aon Benfield’s Attard

25th May 2018

Chief Executive Officer (CEO) of Aon Benfield Asia, George Attard, has said entering Asia-Pacific renewals at 1/1 sparked a divergence of expectations between reinsurers and insurers, in relation to what pricing the former were looking for and what buyers were looking to pay. Speaking with A.M. BestTV at the 29th EAIC ... Read the full article

Damage from Australia’s Hobart storm reaches $50mn: Impact Forecasting

21st May 2018

Overall economic damage from the storm that hit the Australian city of Hobart, Tasmania over May 10-11 is currently estimated by local officials to have reached around AUD $50 million (USD $38 million), according to Impact Forecasting, Aon Benfield’s catastrophe risk modeller. A complex low-pressure system brought rain, wind, hail and ... Read the full article

May U.S. weather event to cost at least hundreds of millions USD: Aon Benfield

18th May 2018

Private insurers and reinsurers are expected to face financial consequences after several clusters of severe thunderstorms in the United States brought widespread damage to residential and commercial property, vehicles, infrastructure, and agriculture between May 12-15. At least five people were killed and dozens more were injured during the multi-day outbreak, which inflicted ... Read the full article

Aon names Andersen and O’Connor Co-Presidents, retires business unit brands

15th May 2018

Aon has appointed Eric Andersen, current Chief Executive Officer (CEO) of Aon Benfield, and Michael O’Connor, current CEO of Aon Risk Solutions, as Co-Presidents of the firm. The appointments come alongside the announcement that Aon will be retiring its remaining business unit brands, Aon Risk Solutions and Aon Benfield, creating instead ... Read the full article

April storms drive $2.3 billion economic loss in the U.S.

10th May 2018

Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has reported that severe April storms resulted in combined economic losses of $2.3 billion in the U.S., with approximately $1.5 billion of this covered by re/insurance. According to the firm's April Global Catastrophe Recap, five separate storm systems caused ... Read the full article

Geoffrey Leathem to join Aon Benfield Africa’s executive team from Guy Carpenter

9th May 2018

Reinsurance broker Aon Benfield's Africa unit has revealed that Geoffrey Leathem will join its executive team with a focus on South African business, effective November 1st, 2018, reports BusinessTech. As well as having a focus on South African operations, Leathem's role will target strategic consulting on business development and broking ... Read the full article

Aon’s reinsurance broking revenues soar in Q1

4th May 2018

Reinsurance broking revenues at Aon plc soared in the first-quarter of 2018, with the firm reporting a 100% increase year-on-year, on a reported basis, as its Aon Benfield unit led a 3% organic revenue increase across the insurance and reinsurance broking group. Aon reported that its reinsurance business under the Aon ... Read the full article

Investments help P&C reinsurers stay profitable in 2017: Aon Benfield

18th April 2018

Reinsurance broker Aon Benfield has reported that the traditional reinsurance sector remained profitable in 2017 despite record-breaking catastrophe losses, with net income across its Aon Benfield Aggregate (ABA) group standing at US $4 billion, and total equity rising 2.5% to $204 billion, driven in part by high investment income. The ABA ... Read the full article

Global reinsurance capital up 2% to $605bn: Aon Benfield

16th April 2018

Global, overall reinsurance capital increased by 2% year-on-year to reach $605 billion at the end of 2017, according to reinsurance broker Aon Benfield's April Reinsurance Market Outlook. According to Aon Benfield's analysis, much of the growth came from the alternative reinsurance market, which grew by $8 billion from the end of ... Read the full article

Technology is redefining value chain roles, says Aon Benfield CEO Andersen

13th April 2018

Eric Andersen, Chief Executive Officer (CEO) of reinsurance broker Aon Benfield, has asserted that the integration of increasingly advanced InsurTech and data analytics is reshaping the re/insurance industry value chain and redefining the roles of brokers, insurers, and reinsurers within it. In an interview with A.M. BestTV at the Dubai ... Read the full article

Adverse weather in March drives $3bn economic loss in the U.S: Aon Benfield

6th April 2018

According to reinsurance broker Aon Benfield's catastrophe risk modelling unit, Impact Forecasting, active weather events in March are expected to cost the U.S. economy $3 billion, with approximately $2 billion of this being assumed by insurers and reinsurers. Impact Forecasting has released its March 2018 Global Catastrophe Recap report, which states ... Read the full article

EXIM Bank develops $1bn risk-sharing programme with leading reinsurers

3rd April 2018

The Export-Import Bank of the United States (EXIM), the official U.S export credit agency (ECA) and a wholly owned federal government corporation, has announced the launch of a landmark $1 billion reinsurance programme with private-sector re/insurers. EXIM Bank worked with a group of 10 reinsurers to complete the programme, led by ... Read the full article

Aon Benfield names CEO for Bermuda in management restructure

20th March 2018

Aon Benfield, the reinsurance arm global brokerage Aon, has announced both the expansion of its Bermuda team as well as a new management structure, which includes the appointment of Matthias Meyenhofer as Chief Executive Officer (CEO) of Aon Benfield Bermuda. Meyenhofer joins from rival reinsurance broker Guy Carpenter, where he was most ... Read the full article

Global nat cats in Feb to cost at least hundreds of millions of dollars: Aon

9th March 2018

Aon Benfield’s monthly Global Catastrophe Recap report has evaluated the impact of Storm Emma and the freezing temperatures that hit large areas of Europe over February, and has predicted that the total financial costs will be at a minimum in the hundreds of millions of dollars (US), and will very likely be ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.