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Reinsurance News

Aon Benfield

California wildfire insured losses could reach $8 billion: Aon Benfield

9th November 2017

Aon Benfield, the reinsurance arm of global insurance and reinsurance brokerage Aon, has said that the California wildfires could drive an insurance industry loss of up to $8 billion, which, on an aggregate basis, makes it the costliest insured wildfire event ever recorded. Aon Benfield and its catastrophe risk modelling unit, ... Read the full article

Reinsurance growth drives Q3 results for Aon

27th October 2017

Aon plc, the insurance and reinsurance broking specialist, has reported strong organic growth in its reinsurance treaty placement business during the third-quarter of 2017, which has helped to drive a revenue increase. Aon reports that its reinsurance broking business, which sits under the Aon Benfield brand, saw strong growth, particularly in ... Read the full article

Aon Benfield expands Siccardi’s role to EMEA & UK Head of Client Services

20th October 2017

Aon Benfield, the global reinsurance arm of international broker Aon, has announced the appointment of Leonora Siccardi as EMEA & UK Head of Client Services, based in London. Siccardi will report to Maggie Westdale, Chief Financial Officer (CFO) of Aon Benfield, Richard Posgate, Co-Chief Executive Officer (CEO) of EMEA, Aon Benfield, ... Read the full article

CelsiusPro & Aon Benfield extend partnership for weather risk solutions

11th October 2017

Swiss Insurtech firm CelsiusPro and Aon Benfield have renewed their partnership of data analysis and solution design for climate related risks. CelsiusPro specialises in offering parametric insurance solutions and weather derivatives to mitigate the risks of adverse weather and natural disasters, and since 2013 has provided Aon Benfield with risk analysis ... Read the full article

Q3 2017 could be the costliest quarter ever for natural catastrophes: Aon

9th October 2017

The catastrophe risk modelling team of reinsurance broker Aon Benfield, Impact Forecasting, has said that the impacts of catastrophe events during the third-quarter of 2017 will likely make it one of the costliest quarters ever for natural disasters. During the month of September, 2017, hurricanes Irma and Maria combined with other ... Read the full article

Harvey to be one of costliest disasters to hit the U.S. on record: Aon Benfield

12th September 2017

Reinsurance broker Aon Benfield's catastrophe risk modelling unit, Impact Forecasting, has said that hurricane Harvey is most likely to be one of the costliest natural catastrophe events on record in the U.S. As part of the unit's latest catastrophe recap report, which looks at the month of August, 2017, hurricane Harvey ... Read the full article

Flooding in Asia drives $10 billion economic loss in July: Aon

9th August 2017

During the month of July severe flooding in Asia contributed to economic losses of $10 billion in the region, according to the July 2017 Global Catastrophe Recap report from Impact Forecasting, the catastrophe risk modelling arm of reinsurance broker Aon Benfield. Across numerous parts of Asia throughout the second-half of June ... Read the full article

Global reinsurance capital hits new high, buyers market persists: Aon Benfield

18th July 2017

Global, dedicated reinsurance capital increased by 2% to a new high of $605 billion in the first three months of 2017, and with excess capacity remaining a dominant feature of the marketplace, buyers took advantage of favourable conditions at mid-year renewals, according to Aon Benfield. Aon Benfield, the global reinsurance arm ... Read the full article

Andy Marcell named President of Aon Benfield

22nd June 2017

Andy Marcell has been promoted to the position of President at global reinsurance intermediary Aon Benfield, reporting directly to Chief Executive Officer Eric Andersen. Marcell joined Aon Benfield in 2015, becoming the Head of Strategy and working on ways to grow business coming through the broker's existing client base, as well ... Read the full article

London re/insurance centre will remain unchallenged by Brexit: Aon Benfield

16th June 2017

An Aon Benfield publication on the potential impact of Brexit on re/insurers states the London specialty re/insurance centre will remain unscathed and unchallenged by EU departure, due to London-based reinsurers' not having to rely on single market access to sell solutions to European clients. This is down to the relative proportion of ... Read the full article

Reinsurers shift from quota share arrangements to directly acess cyber risk: Aon Benfield

16th June 2017

Evolving consumer demand and increased regulation and awareness of cyber risk are driving an expected near-term exponential market growth, and reinsurers who have so far cautiously tread into the cyber space through quota share arrangements with insurers are making bolder moves to directly take on the risk, Aon Benfield said ... Read the full article

Severe U.S. weather in May to cost insurers almost $3 billion: Aon Benfield

8th June 2017

Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has reported that severe weather in the U.S. in May is expected to result in an insurance and reinsurance industry loss of nearly $3 billion. Impact Forecasting's latest global catastrophe report shows that the majority of economic and insured losses ... Read the full article

Aon Benfield launches High Performance Computing platform for re/insurers’ financial reporting

15th May 2017

Reinsurance broker Aon Benfield has announced the introduction of an integrated enterprise High Performance Computing (HPC) business platform as a framework to financial reporting - PathWise Solutions Group IFRS. Pathwise enables businesses to simultaneously model assets, liabilities, and scenario generators - enabling easier management and reporting of complex financial and biometric ... Read the full article

U.S. cyber insurance pays off despite high loss ratios in 2016: Aon Benfield

11th May 2017

Reinsurance broker Aon Benfield's cyber insurance update for 2016 showed U.S. cyber insurance as profitable despite it being a line of business with above average loss ratios. With cyber being the second top rated business risk throughout Europe and the U.S., the report shows insurers and reinsurers have made progress in leaps ... Read the full article

Reinsurers report premium growth in 2016, but profits fall further: Aon Benfield

13th April 2017

The latest Aon Benfield Aggregate (ABA) report, which examines 23 major reinsurance companies based in developed markets, shows that firms continue to report premium growth in spite of the testing market landscape, although profitability has declined and is expected to come under further pressure in the months ahead. During 2016 ABA companies' ... Read the full article

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