Reinsurance News

Aon Reinsurance Solutions

Aon addresses silent cyber with $350m reinsurance solution

11th September 2018

Global re/insurance broker Aon has announced the launch of a new reinsurance solution, backed with $350 million capacity, designed to help carriers navigate the consequences of silent cyber. Silent cyber can occur when other types of insurance or reinsurance products fail to explicitly exclude cyber risks, which could result in an ... Read the full article

Re/insurers failing to close protection gap: Aon’s Nick Frankland

10th September 2018

The insurance protection gap is not being closed at the pace it should be, according to Nick Frankland, UK CEO of Aon Reinsurance Solutions, largely because of re/insurers' failure to accept additional risk in a market that currently has an excess of capital. “Public-private enterprise is the protection gap that we ... Read the full article

Aon launches new advisory unit for capital optimisation

9th September 2018

Global re/insurance broker Aon has launched of a new Capital Advisory unit within its Aon Reinsurance Solutions business, designed to deliver holistic approaches to capital optimisation for re/insurers, Lloyd’s syndicates, and captives. Led by Eric Paire, who joined Aon from Guy Carpenter in March, the new Capital Advisory team will ... Read the full article

Aon’s reinsurance business announces new hire & series of UK leadership changes

7th September 2018

Global re/insurance broker Aon has announced a series of role changes within its London-based UK leadership team as well as the hiring of Peter Stubbings as a replacement for outgoing Chief Executive Officer of Global ReSpecialty, Bob Bisset. Bisset will become UK Growth Leader, overseeing Aon’s nine UK business divisions. He ... Read the full article

Aon promotes two to strengthen cyber reinsurance business

30th August 2018

Global re/insurance broker Aon has promoted Catherine Mulligan and Luke Foord-Kelcey within its Reinsurance Solutions (RS) unit to bolster its suite of cyber solutions for insurers. Mulligan has been appointed Global Head of Cyber and will be responsible for setting strategy, driving growth, building the team and working closely with Aon’s ... Read the full article

Global reinsurer capital up 1% in Q1: Aon

13th August 2018

Global, dedicated reinsurance capital increased by 1% during the first three months of 2018 from the end of 2017, to $610 billion, driven by the continued expansion of the alternative reinsurance capital space, according to Aon. Insurance and reinsurance broker, Aon, has revealed that during the first-quarter of 2018, traditional reinsurance ... Read the full article

Aon Reinsurance Solutions names head of new Global Portfolio Broking team

4th July 2018

Aon has named Andrew Matson as head of its newly formed Global Portfolio Broking team within its recently established Reinsurance Solutions business. Matson will be tasked with matching cedents seeking additional or specialist capacity with carriers looking to diversify their current risk profile and gain access to non-correlating risks. Most recently, Matson ... Read the full article

PPO propensity down 40%-50%, claims settling at higher discount rate: Aon

26th June 2018

Aon Reinsurance Solutions has released the key takeaways from its UK Motor Event, an annual seminar offering updates on trends in the UK motor re/insurance sector. Data shows that PPO propensity has dropped by 40-50% compared to historic levels. Following the new Ogden discount rates PPOs appear to have become larger, indicating ... Read the full article

International Group announces new reinsurance broking arrangements

13th June 2018

The International Group of Protection & Indemnity Clubs has restructured the broking arrangements for its General Excess Loss and Hydra reinsurance programmes following the completion of its previous tender process in June 2018. London-headquartered Miller Insurance Services has been appointed flag broker for both programmes with Aon Benfield set to serve ... Read the full article

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

Aon establishes new Carrier Solutions groups, appoints Hennessy as CEO

30th May 2018

Re/insurance broker Aon plc has established a new Carrier Solutions group as part of its brand restructure, and has appointed Karl Hennessy as Chief Executive Officer (CEO). The newly formed group is designed to support Aon’s network of Managing General Agents (MGAs) and Managing General Underwriters (MGUs) by delivering innovative products, ... 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

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