Reinsurance News

Aon Reinsurance Solutions

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

Aon Benfield names new heads of Capital Advisory and Terrorism Specialty units

7th March 2018

Reinsurance broker Aon Benfield has announced the appointment of Eric Paire and Emma Karhan from Guy Carpenter, with the former set to lead its Capital Advisory unit, and the latter being named Head of Terrorism Specialty and Reinsurer Relationships in London. Reporting to Aon's Nick Frankland, UK Chief Executive Officer (CEO), Eric ... Read the full article

Dominic Christian appointed new Global Chairman of Aon Benfield

1st March 2018

Aon plc has announced that it has appointed Dominic Christian as new Global Chairman of Aon Benfield, and that Julie Page has been promoted to Chief Executive Officer (CEO) of Aon UK Ltd. Christian has been the CEO of Aon UK Ltd, the firm’s UK risk management, insurance broking, and reinsurance ... Read the full article

Aon Benfield names Leonora Siccardi as Chief Operating Officer, UK

5th February 2018

Reinsurance broker Aon Benfield has promoted Leonora Siccardi, appointing her to the role of Chief Operating Officer of Aon Benfield UK, in addition to her role as EMEA & UK Head of Client Services. Siccardi will report to Nick Frankland, UK CEO of Aon Benfield, and Maggie Westdale, CFO of Aon ... Read the full article

Global insured losses from natural disasters hit $134bn in 2017: Aon Benfield

24th January 2018

Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has said that total natural disaster losses in 2017 reached $353 billion, while insured losses reached $134 billion. Of the $353 billion, a huge 97%, or $344 billion was due to weather-related events, which includes the impacts of hurricanes ... Read the full article

Growing prevalence of risk-based capital regimes to drive reinsurance demand: Aon Benfield

17th January 2018

Aon Benfield's 2018 reinsurance market outlook forecasts a continued modest upturn in reinsurance demand globally driven by the growing prevalence of risk-based capital regimes and emerging areas of risk transfer. Reinsurance demand could also benefit from modest global economic growth alongside heightened risk awareness following a record-setting catastrophe loss year. Additional demand ... Read the full article

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