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Reinsurance News

Aon Benfield

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

Traditional reinsurance capital declined by $3 billion in Q4 2016: Aon

11th April 2017

The volume of traditional reinsurance capital declined in the final quarter of 2016 by $3 billion to a reported $514 billion as at December 31st, 2016, while alternative capital growth in the quarter ensured dedicated reinsurance capacity remained at $595 billion, according to Aon Benfield. Reinsurance brokerage and advisory firm, Aon Benfield, ... Read the full article

$2 billion insured losses for severe U.S. weather events in March: Aon Benfield

7th April 2017

Aon Benfield’s March Global Catastrophe report reveals a month of above average payouts as an expected $2 billion hits the U.S. re/insurance industry after an extremely active severe weather season struck central and eastern parts of the country. Major damage from early March tornadoes, hail and straight-line winds in the Plains, ... Read the full article

U.S. severe weather drives Q1 2017 global insured losses: Aon Benfield

6th April 2017

2017 first quarter global catastrophe loss estimations have been set at $7.6 billion - showing an active, but below 10- year average payout season, according to reinsurance broker Aon Benfield's estimations in its newly released first quarter market trends report. Following on from last year’s insured loss records - where the ... Read the full article

Favourable terms seen at April reinsurance renewal: Aon

6th April 2017

Reinsurance buyers found favourable terms at the 1st April 2017 renewals, as record levels of reinsurance capital kept pressure on pricing and provided plenty of capacity to fulfill buyers needs, according to Aon Benfield. In its latest Reinsurance Market Outlook report, the broker explained that the high-levels of reinsurance ... Read the full article

Michael O’Halleran retires from Aon after 37 years

4th April 2017

Michael O'Halleran is set to retire after a life-long career spanning 37 years with Aon Benfield, Aon's global reinsurance intermediary and capital advisor. O'Halleran was one of the founders of Aon Re at its inception in 1987 and led the strategic acquisition of Benfield in 2008, he served most recently as Executive Chairman of ... Read the full article

Re/insurance industry losses from severe weather in Feb at $1bn+, says Aon

8th March 2017

Aon Benfield’s latest monthly Global Catastrophe Recap report shows a continuation of an active start to the year for insurers and reinsurers as severe weather events in February drives billion dollar losses across the globe. The U.S. was hit by five severe weather outbreaks in February, one in which a tornado touched down 60 ... Read the full article

Aon reports organic reinsurance revenue growth

10th February 2017

Insurance and reinsurance broker Aon plc has reported organic growth in its reinsurance operations at Aon Benfield in the final quarter of 2016. The broker reported a 2% increase in organic reinsurance related revenues at the firm, increasing from $323 million in the fourth-quarter of 2015 to $329 million in the ... Read the full article

U.S. weather & Chile fires lead January Catastrophe losses: Aon Benfield

8th February 2017

U.S. severe weather and Chile wildfires have led January’s catastrophe loss events, with U.S. weather losses exceeding $1 billion and Chile following with $890 million in losses after its worst wildfire event in modern history. Aon Benfield’s monthly Global Catastrophe report has released figures for January, revealing a month ... Read the full article

Aon appoints new reinsurance Global Head of Broking Strategies

8th February 2017

Reinsurance intermediary Aon Benfield has appointed Jeremy Goodman to a New York-based role as Global Head of Broking Strategies with immediate effect. Goodman will report to Eric Andersen, Chief Executive Officer of Aon Benfield, and will be responsible for networking with the firm’s reinsurance trading partners to develop innovative products that ... Read the full article

Aon hires U.S. intelligence expert in Cyber role

1st February 2017

Reinsurance broker Aon Benfield has hired U.S. intelligence expert Craig Guiliano, as Technology Consultant in its Cyber division, as it looks to improve its understanding of cyber risks across the world. Guiliano joins the firm with more than 13 years of experience in conducting human and business intelligence, the assessment of cyber ... Read the full article

Aon’s Steve McGill steps down to pursue new opportunities

25th January 2017

Steve McGill the Group President of insurance and reinsurance brokerage Aon is stepping down from the company to pursue new opportunities, the firm said today. McGill, who also held the position of Chairman and CEO of Aon's Risk Solutions group, has been in the insurance and reinsurance industry for around 40 ... Read the full article

Aon appoints executives to risk and consulting divisions

19th January 2017

Aon today announced the appointment of two executives to its risk and consulting divisions; James Platt will take on the role of Chief Operating Officer (COO) of Aon Risk Solutions and Michael Moran as Chief Executive Officer (CEO) of Aon Inpoint.  Platt will work with Mike O’Connor, CEO of Aon ... Read the full article

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