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 latest nat cat report notes multi-billion dollar events in India, Canada
17th December 2021
Aon's latest monthly catastrophe report reveals how an active Northeast Monsoon affected parts of India and Sri Lanka from late October through November, killing at least 190 people in India and 27 in Sri Lanka. Tens of thousands of structures and vehicles were damaged or destroyed, along with agricultural land and ... Read the full article
Aon bolsters Reinsurance Solutions’ US Treaty team
16th December 2021
Aon has announced the appointment of Ashley Irl to its Reinsurance Solutions' US Treaty team. Based in New York, Irl reports to Greggory Clark and Randy Stanco, who co-lead Aon’s New York/New Jersey Reinsurance Solutions office. This new role sees her take responsibility for the structuring and placement of reinsurance for several ... Read the full article
Aon names Chief Broking Officer for Commercial Risk UK
16th December 2021
Aon has announced the appointment of Angela James as Chief Broking Officer for Commercial Risk in the UK. James will join the business in June 2022 and report to James Baum, Head of Commercial Risk, UK. In the newly created role, which will cover Commercial Risk in the Global Broking Centre (GBC) ... Read the full article
Aon warns of severe convective storm risk, pegs US tornados as multi-billion dollar event
14th December 2021
Aon analysis of the devastating tornado outbreak which swept several US states over the weekend echos other outlet's in its expectation for both economic and insured losses to reach into the billions of dollars. Analysts note how the severe convective storm (SCS) peril has become an increasingly expensive one ... Read the full article
Aon hires Doug Melton as Global Analytics and Actuarial Leader, Health Solutions
8th December 2021
Re/insurance broker Aon has appointed Doug Melton as its new Global Analytics and Actuarial Leader, Health Solutions. In this newly created role, he is responsible for the development and execution of Health Solutions' analytics strategy to deliver additional value to clients through data, research and analytics. Prior to joining Aon, Melton was ... Read the full article
Aon turns to Guidewire for cyber software integration
7th December 2021
Re/insurance broker Aon has announced plans to implement the cyber data listening and modelling collection capabilities offered by specialist firm Guidewire. Aon views the high-profile events of 2021 as having further reinforced industry concerns over the systemic potential of cyber attacks, and the rapid rise of ransomware events. It's hoped Guidewire’s Cyence ... Read the full article
First Superfund deal imminent following regulatory nod, says Aon
1st December 2021
Re/insurance broking giant Aon has underlined the significance of so-called Superfunds and expects the new Pension Risk Transfer (PRT) instrument to be deployed imminently. Superfunds have been introduced to help help counteract emerging gaps between the fixed sums paid out by pension schemes and the income received from investments. The driving concept ... Read the full article
Aon announces launch of Saudi-based reinsurance unit
29th November 2021
Re/insurance broker Aon has announced the formation of a new reinsurance broking unit in Saudi Arabia, Aon Reinsurance Brokers Saudi Arabia LLC (ARBS), with the firm adding Mohammad Al Marhoon to lead as managing director. ARBS received a reinsurance broking licence from the Saudi Central Bank (SAMA). This development is seen as particularly ... Read the full article
Industry guidance on innovation flagged during climate-focused Aon fireside
24th November 2021
While industry momentum against climate change is building, guidance on where specifically to focus innovation efforts, as well as the success of communication between re/insurers and businesses, were both flagged as key areas still being refined and worked through. These comments came during a panel brought together for an Aon-hosted fireside ... Read the full article
Aon & LMA find intragroup reinsurance favoured by managing agents
23rd November 2021
A new study by Aon’s UK Capital Advisory team and the Lloyd’s Market Association (LMA) shows that intragroup reinsurance is favoured as the primary capital optimisation technique among managing agents. A survey of Chief Financial Officers (CFOs) at 28 Lloyd’s managing agents, representing 75% of the market’s capacity for 2021, found ... Read the full article
Jillian Slyfield takes Chief Innovation Officer role at Aon
22nd November 2021
Re/insurance broker Aon has announced the appointment of Jillian Slyfield as its new Chief Innovation Officer, effective December 1st. Slyfield joined Aon in 2015 and most recently served as Digital Economy Practice Leader, where she addressed digital disruption of traditional industries and the on-demand economy. Prior to this, she served as an ... Read the full article
Industry uncertainty throws doubt over future of mega-M&A
18th November 2021
Despite having become an increasingly common feature of the insurance and reinsurance landscape in recent years, the industry's perception of mega-M&A moving forward appears to be one categorised by uncertainty; influenced by an awareness of heightened competition and anti-trust concerns. The results of our H2 2021 Reinsurance Market Survey, held ... Read the full article
Aon partners with ICEYE to manage climate risks in Japan
17th November 2021
Aon plc has collaborated with satellite and persistent monitoring expert ICEYE to provide insurers with flood hazard data following severe flooding events in Japan, helping them to reduce volatility and better understand the post-event impact on their portfolios. According to the Japan Meteorological Agency (JMA), Japan experiences an average of three ... Read the full article
New reinsurance capacity expected to set a record: Aon
17th November 2021
According to a new report from re/insurance broker Aon, total capacity is expected to set a record as reinsurers reported strong earnings for the first half of 2021. This is despite challenges from increased volatility, particularly related to ongoing COVID-related litigation, property catastrophe frequency, and inflationary pressures. The broker reported that $25.1 ... Read the full article
Willis Towers Watson names Aon’s Hugo Wegbrans as Global Head of Broking
15th November 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has hired Hugo Wegbrans from rival broker Aon as its new Global Head of Broking and Broking Strategy. Effective early next year, Wegbrans will join the company's Risk and Broking business operation. He joins from Aon, where he most recently served as Leader ... Read the full article