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 & Marsh urge re/insurance industry to aid Ukraine’s resilience
8th September 2024
In a joint statement, Aon and Marsh McLennan have called on the re/insurance industry to aid Ukraine's resilience by facilitating economic growth, chiefly through the removal of blanket exclusions. According to the two firms, blanket exclusions ignore the diversity of risk throughout the country, preventing support for Ukraine's economy. "Additionally, since the ... Read the full article
Aon expands Bermuda reinsurance platform to drive client growth opportunities
6th September 2024
Global insurance and reinsurance broking group Aon has expanded its Bermuda reinsurance platform to enhance transactional and capital optimisation solutions and support profitable growth opportunities for clients. Aon has added five new members to its Bermuda reinsurance team: Jemma Henry and Lawrence Cheng, who will both serve as Managing Directors, along ... Read the full article
NFP acquires Scott Litman Insurance Agency, expanding P&C expertise in Southern California
5th September 2024
NFP, a company under Aon and a broker in property and casualty (P&C) insurance, benefits consulting, wealth management, and retirement plan advising, has announced its acquisition of Scott Litman Insurance Agency (SLIA). SLIA, based in Calabasas, California, is a P&C broker with expertise in habitational risk. Scott Litman, President of SLIA, will ... Read the full article
ICEYE and Aon expand flood and wildfire data partnership to enhance event response
5th September 2024
ICEYE, a provider of satellite-based disaster management solutions, has announced that Aon, a global professional services firm, has expanded its data licensing agreement to include ICEYE’s Flood Insights data worldwide and Wildfire Insights data for the US. Through this agreement, Aon will incorporate ICEYE’s near real-time flood and wildfire data into ... Read the full article
Aon forecasts an increase in reinsurance pricing competition in 2025
5th September 2024
Reinsurance renewals in 2024 have seen pricing gradually decrease, partly driven by an increase in alternative capital to $110 billion, combined with rate reductions being granted by reinsurers for the best performing risks. In its Reinsurance Renewal Season 2024 report, broker Aon is forecasting an increase in pricing competition in 2025, ... Read the full article
$45.5m Randolph Re wildfire private cat bond first issued using a Guernsey PCC
3rd September 2024
Aon, via its protected cell company White Rock Insurance Company PCC Limited, has facilitated a new $45.5 million Randolph Re private catastrophe bond, marking the first time a cat bond has been issued using a Guernsey PCC structure. This new series 2024-1 private cat bond is a renewal of previously ... Read the full article
Aon promotes Rob Kemp to head of Commercial Risk Solutions, UK
2nd September 2024
Global professional services firm Aon has appointed Rob Kemp as head of Commercial Risk Solutions for the UK, subject to regulatory approval. Kemp joined Aon four years ago and currently leads the EMEA Central Broking team. Effective 1 October, he will be responsible for bringing more of Aon’s Risk Capital capabilities ... Read the full article
Record cat bond issuance fuelled growth of broader ILS market: Aon
30th August 2024
Insurance and reinsurance broker Aon has published the 18th edition of its Insurance-Linked Securities (ILS) Annual Report, which highlights a year of exceptional ILS activity, with $17.9 billion in catastrophe bonds issued across 76 transactions. Covering the 12 months ending June 30, 2024, the Aon Securities report notes that record levels ... Read the full article
Aon & Future Climate collaboration to strengthen voluntary carbon market
30th August 2024
Global insurance and reinsurance broking group Aon is collaborating with Future Climate to build a robust marketplace in order to support scaling of the voluntary carbon market (VCM) and project development. From what we understand, this will mean that any buyer will be able to take out an insurance policy to protect ... Read the full article
Geographical diversification key to reducing portfolio risk of cloud outage events: Aon, Parametrix
30th August 2024
Geographical diversification is key to reducing the portfolio risk of systemic cloud outage events, according to a joint report from global insurance and reinsurance broker Aon and Parametrix, a cloud monitoring, modelling, and insurance services provider. Aon and Parametrix's report emphasised that the July 2024 CrowdStrike Falcon/Microsoft Windows outage served as ... Read the full article
Aon’s White Rock sues Chinese bank over Vesttoo LOC fraud
29th August 2024
White Rock Insurance (SAC) Ltd., global insurance and reinsurance broker Aon's segregated accounts company, has reportedly filed a lawsuit in New York against China Construction Bank as Aon seeks compensation for itself and its clients for damages related to Vesttoo collateral fraud, as first reported by our sister publication ... Read the full article
Aon appoints Sinead Wolfe as Business Development Specialist, Credit Solutions
21st August 2024
Global insurance and reinsurance broking group Aon has recently appointed Sinead Wolfe as Business Development Specialist, Credit Solutions in Ireland. Suzanne Hughes, Head of Credit Solutions, Ireland, expressed enthusiasm for Wolfe’s appointment, stating, “Sinead is a fantastic new addition to the Aon Credit Solutions team. Her depth of knowledge and expertise ... Read the full article
Aon launches D&O Risk Analyzer for US brokers
19th August 2024
Global re/insurance broker Aon has unveiled its Directors and Officers (D&O) Risk Analyzer, a new digital offering designed to enable risk managers and brokers to better assess executive risks and tailor more impactful insurance programs. Part of a growing suite of new offerings, the new application will allow risk managers of ... Read the full article
Aon forecasts 9% rise in US employer health care costs for the coming year
16th August 2024
The cost of employer-sponsored health care in the US is expected to increase by 9.0 percent in 2025, bringing the average expense per employee to over $16,000, according to Aon, a global professional services firm. This expected rise assumes that employers won't introduce additional cost-sharing or other savings measures. It marks a ... Read the full article
Funded Re can support greater new business volumes in bulk annuity market: Aon
16th August 2024
According to a recent report from Aon, with appropriate risk controls in place, Funded Reinsurance (Funded Re) transactions can support greater new business volumes in the bulk annuity market over time. This statement from Aon follows the Prudential Regulation Authority (PRA) Supervisory Statement on 26 July 2024, which was issued with ... Read the full article
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