Reinsurance News
Aon Reinsurance Solutions
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
Jeremy Fox to join JLT Re from Aon Benfield as Asia-Pacific CEO
15th January 2018
JLT Re, the global reinsurance arm of re/insurance broker JLT Group, has announced that Jeremy Fox has been appointed Chief Executive Officer (CEO) of JLT Re's Asia-Pacific unit (APAC), and that he will also become a member of the Reinsurance Global Executive Committee. Most recently, Fox served as Chief Operating Officer ... Read the full article
Reinsurance price increases could be short-lived: Aon Benfield
9th January 2018
Despite pricing in the global reinsurance industry increasing at the January 1st renewals after third and fourth-quarter 2017 catastrophe events, reinsurance broker Aon Benfield expects this trend to be short-lived as capital continues to enter the market, and warns it could have a lasting impact on the reinsurance market. According to ... Read the full article
Typhoon Damrey drives $1 billion loss in Vietnam
14th December 2017
Vietnam has suffered a $1 billion loss after Typhoon Damrey made landfall on the 4th of November, 2017, killing at least 108 people and damaging over 300,000 properties, according to insurance and reinsurance broker, Aon. Typhoon Damrey made landfall on the 4th of November in the country’s south-central coastal region as a ... Read the full article
Rupert Evans joins Aon Benfield’s Credit & Financial Risks division
12th December 2017
Rupert Evans will join reinsurance broker Aon Benfield from Liberty Speciality Markets (LSM) as a broker within its Credit & Financial Risks team, effective immediately. Evans has specialised in underwriting political risk, credit & surety business, and also has experience within other crisis management lines. He joins Aon Benfield from LSM, where ... Read the full article
Aon’s Impact Forecasting cat model joins ModEx platform
1st December 2017
Impact Forecasting, Aon Benfield’s catastrophe risk model development centre, has become the fourth model vendor to offer its cat risk model solutions on the integrated ModEx platform. Impact has announced a deal on model provision with Simplitium enabling it to add its models to the ecosystem of cat risk modelling services ... Read the full article
California wildfire insured losses could reach $8 billion: Aon Benfield
9th November 2017
Aon Benfield, the reinsurance arm of global insurance and reinsurance brokerage Aon, has said that the California wildfires could drive an insurance industry loss of up to $8 billion, which, on an aggregate basis, makes it the costliest insured wildfire event ever recorded. Aon Benfield and its catastrophe risk modelling unit, ... Read the full article
Reinsurance growth drives Q3 results for Aon
27th October 2017
Aon plc, the insurance and reinsurance broking specialist, has reported strong organic growth in its reinsurance treaty placement business during the third-quarter of 2017, which has helped to drive a revenue increase. Aon reports that its reinsurance broking business, which sits under the Aon Benfield brand, saw strong growth, particularly in ... Read the full article
Aon Benfield expands Siccardi’s role to EMEA & UK Head of Client Services
20th October 2017
Aon Benfield, the global reinsurance arm of international broker Aon, has announced the appointment of Leonora Siccardi as EMEA & UK Head of Client Services, based in London. Siccardi will report to Maggie Westdale, Chief Financial Officer (CFO) of Aon Benfield, Richard Posgate, Co-Chief Executive Officer (CEO) of EMEA, Aon Benfield, ... Read the full article
CelsiusPro & Aon Benfield extend partnership for weather risk solutions
11th October 2017
Swiss Insurtech firm CelsiusPro and Aon Benfield have renewed their partnership of data analysis and solution design for climate related risks. CelsiusPro specialises in offering parametric insurance solutions and weather derivatives to mitigate the risks of adverse weather and natural disasters, and since 2013 has provided Aon Benfield with risk analysis ... Read the full article
Q3 2017 could be the costliest quarter ever for natural catastrophes: Aon
9th October 2017
The catastrophe risk modelling team of reinsurance broker Aon Benfield, Impact Forecasting, has said that the impacts of catastrophe events during the third-quarter of 2017 will likely make it one of the costliest quarters ever for natural disasters. During the month of September, 2017, hurricanes Irma and Maria combined with other ... Read the full article
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