Reinsurance News
Aon Reinsurance Solutions
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
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