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Reinsurance News

Aon Benfield

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

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

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