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’s Reinsurance Solutions contributes to robust revenue growth in 2021
4th February 2022
Global broker Aon has reported an increase in total revenue of 4% to $3.1 billion for the fourth quarter of 2021 and growth of 10% to $12.2 billion for the full year, driven in part by an improved performance in its Commercial Risk Solutions and Reinsurance Solutions segments. For the quarter, ... Read the full article
BMS names Ian Matheson as non-exec chairman, Canada
2nd February 2022
Insurance and reinsurance broker BMS has appointed Ian Matheson as a non-executive chairman of its Canadian operations, where he will support Brian Gomes, president and CEO of BMS Canada and the national leadership team. Prior to his new appointment, Matheson spent 15 years at Aon and its subsidiaries, where he held ... Read the full article
WTW hires Grimwade from Aon for Direct & Fac expansion
2nd February 2022
WTW has appointed Matt Grimwade to be its new client relationship director for large and complex risks. In his new position, Grimwade will be responsible for complex property placements for clients within the Global Markets Direct & Facultative Line of Business. He will provide clients with access to the global marketplace to ... Read the full article
Global insured losses topped $100bn again in 2021: Aon
25th January 2022
Global insured losses from weather and climate-related events reached roughly $130bn in 2021, according to Aon’s 2021 Weather, Climate and Catastrophe Insight. The report, which the insurer has just released, outlines how global insured losses topped more than $100bn for the fourth time in five years. This figure also managed to ... Read the full article
Catastrophe bond market reaches $12.5bn – Aon
25th January 2022
Catastrophic bond issuance reached a huge $12.5bn in 2021, according to insurance and reinsurance broker Aon. This, said the broker, beats the previous record of $11bn, which was set in 2020. Paul Schultz, CEO of Aon Securities, said in a statement: “In addition to growth in scale, catastrophe bonds have evolved to ... Read the full article
Lisa Varley joins Aon
25th January 2022
Lisa Varley has joined Aon as a senior consultant in the risk settlement team. Varley is joining from Aviva, where she was a bulk annuity deal manager. Martin Bird, senior partner and head of risk settlement at Aon, said: “It’s vital that schemes have access to people with the right knowledge and ... Read the full article
Aon adds Whelan & Stewart to UK operations leadership team
24th January 2022
Re/insurance broker Aon has bolstered its operations leadership team in the UK with the appointments of Katy Whelan as London Chief Operating Officer(COO) and Charles Stewart as Head of Strategy, Planning and Implementation, Aon Business Services (ABS), UK. They are both based in London and will report to Nathan Shanaghy, Aon ... Read the full article
PIC signs £250mn partial buy-in with IMI pension fund
21st January 2022
Pension Insurance Corporation (PIC) has concluded another partial buy-in with the Trustee of the IMI plc's 2014 Deferred Fund, which covers £250 million in liabilities for approximately 1,200 Fund members, 95% of which are deferred members. The transaction, which was finalised in December, is the fifth buy-in since 2016 and takes ... Read the full article
TWIA committee selects Aon for catastrophe risk modelling
20th January 2022
The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has recommended the organisation contract with broker Aon for its catastrophe modelling services. A request for proposals in October 2021 from the TWIA saw propositions put forwards by Aon for $600,000 and $1.6m, respectively. The Committee recommended at this ... Read the full article
Businesses need to shift their mindsets around risk: Aon’s Greg Case
13th January 2022
Businesses need to shift their mindsets around being prepared for risk, according to Greg Case, Aon’s chief executive officer in a recent interview. In its new survey, Aon found that in order to succeed in the current climate, businesses need to focus on four critical priorities, navigating new forms of volatility, ... Read the full article
Aon hires Pete Rutherford as Enterprise Client Leader, FI, UK
11th January 2022
Insurance and reinsurance broker Aon has appointed Pete Rutherford as Enterprise Client Leader, Financial Institutions in the UK, reporting to Richard Phelps, Head of Financial institutions (FI), UK and EMEA. Rutherford will help build key client relationships for Aon ... Read the full article
UK pension risk settlements to see volumes of over £45bn in 2021: Aon
6th January 2022
Aon expects the UK pension risk settlement market to see volumes of over £45 billion reported for full-year 2021, making it the third year in a row that it has reached this level. Compared with recent years, the market in the first half of 2021 was relatively subdued with £7.7 billion ... Read the full article
Insurance agents have a positive outlook for 2022: Aon Programs
4th January 2022
According to a new survey from Aon Programs, an Aon Affinity business that helps agents and brokers develop tailored insurance portfolios, the majority of insurance agents have a positive outlook for 2022. Around 70% of the participating agents expect their business growth to be on track in the new year, while ... Read the full article
Reinsurance leaders see real-time data tools as ‘game-changer’
24th December 2021
During a recent panel discussion that formed part of Aon Virtual Reinsurance Renewal Season fireside chats, leaders from the industry identified real-time data management as a ‘game-changer’ for reinsurance The session was hosted by Andy Marcell, Chief Executive Officer of Aon’s Reinsurance Solutions, and included as panelists Monica Cramér Manhem, President, ... Read the full article
Richard Pennay joins Aon Securities as Head of ILS
21st December 2021
Global insurance and reinsurance broker Aon has appointed Richard Pennay as Head of its insurance-linked securities (ILS) team, which is part of the company's Aon Securities division. In his new role, Pennay will be based in New York and reports to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities. As Head ... Read the full article