Reinsurance News
Aon news
Aon news, related to the insurance and reinsurance broking operations of the global consultancy and intermediary business.
Aon is one of the world’s largest brokers of both insurance and reinsurance business.
Aon Client Treaty expands line size to record 28.5% for 2025
2nd December 2024
Aon, the global insurance and reinsurance broker, has announced the successful renewal and expansion of the Aon Client Treaty (ACT), the firm's flagship London Market placement facility that helps clients respond to complexity with new sources of capital. According to the announcement, in 2025, ACT will offer 28.5% co-insurance across core lines ... Read the full article
Aviva completes £1.7bn buy-in with National Grid pension scheme
27th November 2024
Aviva has completed a £1.7 billion pensioner buy-in with the National Grid Electricity Group (the Group) of the Electricity Supply Pension Scheme (the Scheme). Aviva stated that the transaction, completed in October 2024, involved transferring the Group's existing longevity swap with Zurich Assurance Ltd and provides insurance for the benefits of ... Read the full article
Aon to acquire Mitsubishi Chemical Group’s insurance agency in Japan
27th November 2024
Aon, a global professional services firm, has announced the signing of a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), further strengthening the re/insurance broker's risk and health offerings in Japan. The insurance agency, currently operating as part of Dia Rix, MCG’s internal business services ... Read the full article
Reinsurers can differentiate themselves beyond price competition: Aon’s Attard
25th November 2024
Reinsurers are poised to leverage a disciplined market and differentiate themselves by actively assisting insurers in managing risks and pursuing growth, moving beyond price competition, Aon’s George Attard shared in his comments following the Singapore International Reinsurance Conference (SIRC). He stated: “This year’s SIRC was an exciting time for us to ... Read the full article
Aon appoints Magnus Roe as Global Chief Data and Analytics Officer
21st November 2024
Global professional services firm Aon has appointed Magnus Roe as its Global Chief Data and Analytics officer, supporting the firm’s strategy to enhance commercial solutions through advanced analytical capabilities. Based in Singapore, Aon’s global analytics hub, Roe will lead Aon's global data and analytics team to innovate and leverage the firm’s ... Read the full article
Aon unveils new application to drive tech-driven cyber risk management
18th November 2024
Global professional services firm Aon has launched its Cyber Risk Analyzer, a digital application allowing risk managers to make technology-enabled decisions to mitigate cyber risk. According to the firm, the Cyber Risk Analyzer provides clients and brokers with unique capabilities such as loss forecasting, exposure assessment, and total cost of risk ... Read the full article
Aon and Fathom launch new Florida Flood Model for state insurers to assess exposures
15th November 2024
Aon, a global professional services firm, has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) to launch its new Florida Flood v3.0 model statewide to assess flood exposures in the state and inform re/insurers' rate filings. Florida Flood v3.0 was developed by Impact Forecasting, Aon’s catastrophe model, ... Read the full article
Notable insured losses expected from California mountain fire: Aon
15th November 2024
The recent mountain fire which broke out on November 6 in Ventura County of Southern California is expected to drive notable insured losses, according to global insurance and reinsurance broking group Aon. The start of the wildfire in southern California on November 6, 2024, was preceded by extreme wind gusts exceeding 75 ... Read the full article
Aon, DFC to provide $50m in war insurance for Ukrainian businesses
15th November 2024
The U.S. International Development Finance Corporation (DFC) will provide $50 million, in coordination with Aon, in political risk insurance (PRI) for a new reinsurance facility to ARX, an Ukrainian subsidiary of Fairfax Financial Holdings Limited, to support companies in Ukraine. This initiative aims to establish a range of war risk insurance ... Read the full article
Just Group completes £1.8bn buy-in with Trustee of G4S Pension Scheme
15th November 2024
Just Group, a specialist UK financial services company, has completed a £1.8 billion full buy-in with the Trustee of the G4S Pension Scheme, covering the benefits of around 22,500 members. This has become Just’s largest insurance de-risking transaction to date, as well as the largest publicly announced deal in the Bulk ... Read the full article
UK bulk annuity market in 2024 sees 83% of deals under £100m, Aon reports
14th November 2024
Aon, a professional services firm providing a range of risk, retirement, and health solutions, recently released a report on the UK risk settlement market, shedding light on significant trends and strategic shifts affecting the bulk annuity sector, especially in transactions under £100 million. The report indicates a surge in smaller transactions, ... Read the full article
Aon joins Asia Investor Group on Climate Change as member
7th November 2024
Global insurance and reinsurance broker Aon has joined the Asia Investor Group on Climate Change (AIGCC) as a member with risk capital capabilities. As a member, Aon will contribute to developing market-based climate solutions for increasing resilience against climate risks for new sustainable growth opportunities. Aon's innovation in data, analytics and risk ... Read the full article
Buyer friendly conditions continue as insurers focus on growth: Aon
6th November 2024
Buyer friendly conditions for insurance buyers in North America continued through the third quarter of 2024, accelerating in key areas as insurers seek to achieve year-end growth, Aon has revealed in its recent North America Market Overview for Q3. In its remarks, the broker noted that the Casualty insurance environment presents ... Read the full article
Clapham joins Aon Underwriting Managers as CUO
4th November 2024
Global professional services firm Aon has revealed that Simon Clapham has joined the firm as chief underwriting officer for Aon Underwriting Managers (AUM). Clapham reportedly holds extensive experience in the insurance industry, having previously worked in underwriting and broking companies in the UK and US. This includes around 12 years at Liberty ... Read the full article
Aon to expand presence in UK & Ireland with Griffiths & Armour acquisition
1st November 2024
Global insurance and reinsurance broker Aon has signed a definitive agreement to acquire UK-based insurance broker Griffiths & Armour, a move that aligns with its UK and Ireland expansion strategy. Upon completion of the transaction, Griffiths & Armour will become wholly-owned by Aon UK Limited and is proposed to go to ... Read the full article
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