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.
Cyber industry loss ratio at record-high 67% in 2020: Aon
21st June 2021
A new report on the US cyber market by re/insurance broker Aon shows that the overall industry loss ratio jumped up by 22.0 percentage points last year to reach a record high of 67.0%. Analysts attributed that increase primarily the growing severity of ransomware claims, which included heightened incident response costs ... Read the full article
Aon & Willis Towers Watson surprised by DOJ lawsuit: report
21st June 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) are said to have been surprised by the U.S. Department of Justice's (DOJ) decision to block their proposed combination, amid reports the parties were not offered a so-called 'last rites' meeting with leadership. Last week, the DOJ filed a civil antitrust ... Read the full article
Gallagher “wide open” to take on more Aon / WTW business, says CEO
18th June 2021
J. Patrick Gallagher, Jr. Chairman, President and CEO at Arthur J Gallagher, has said that the company remains “wide open” to taking on more business from the pending merger between Aon and Willis Towers Watson (WTW), should it be offered up as part of a further remedy package. It was confirmed ... Read the full article
Aon-WTW deal would deliver better client services, says GlobalData
18th June 2021
GlobalData analysts believe the Aon and Willis Towers Watson merger will complement each broker's business solutions and deliver better client services, following a block of their proposed merger by the Justice Department in the US. The U.S. Department of Justice (DOJ) filed a civil antitrust lawsuit to block the proposed ... Read the full article
Aon appoints GC’s Schwebach as senior MD within Reinsurance Solutions
17th June 2021
Re/insurance broker Aon has named Eric Schwebach Senior Managing Director of its Reinsurance Solutions unit, focusing on the management of major clients as well as the generation of new business. He reports to Trevor Dorr, Executive Managing Director of Reinsurance Solutions. Based in Minneapolis, he joins from rival broker Guy Carpenter, where he ... Read the full article
Further divestitures more likely than Aon/WTW deal collapse, say analysts
17th June 2021
As the U.S. Department of Justice (DOJ) sues to block the combination of global re/insurance brokers Aon and Willis Towers Watson (WTW), analysts at KBW view additional divestitures as a more likely outcome than the deal falling apart completely. Previous reports that the DOJ was likely to approve the $30 ... Read the full article
US DOJ files antitrust lawsuit to block $30bn Aon / WTW combination
17th June 2021
The U.S. Department of Justice (DOJ) has filed a civil antitrust lawsuit to block the proposed $30 billion combination of Aon and Willis Towers Watson (WTW), stating that the merger threatens to eliminate competition, increase prices, and ultimately create a "broking behemoth." In response to the DOJ's announcement, Aon and WTW ... Read the full article
Aon releases P&C market insight report
16th June 2021
Re/insurance broker Aon has released a new report for the first quarter of 2021, giving insight into the UK Property & Casualty insurance market. The report noted that within the property market, insurers are continuing to focus on achieving a technical rate and getting close to that is a minimum for ... Read the full article
Aon’s India broking operations shift under the Aon brand name
15th June 2021
Aon has completed its acquisition of a 49% stake in Indian broker Anviti, which has since been rebranded as Aon India Insurance Brokers Private Limited. The takeover was announced back in 2020 but has only now gained regulatory approval. As a result, Aon said that it will now operate its insurance and ... Read the full article
Aon forecasts shifting re/insurer priorities as pricing moderates
14th June 2021
As part of its Global Market Overview report, broker Aon has forecasts that key longer-term issues are likely to gain relevance in re/insurer appetite and rating models, as the world emerges from the COVID-19 pandemic and as pricing momentum slows. Aon is predicting moderation in rate increases as re/insurers begin to ... Read the full article
Aon / WTW deal expected to gain EU antitrust approval by early July: Reuters
11th June 2021
Reuters, citing people familiar with the matter, has said that re/insurance broker Aon's proposed $30 billion combination with Willis Towers Watson (WTW) is expected to gain EU antitrust approval later in June or in early July. It looks as though the remedy package Aon submitted to the European Commission (EC) is ... Read the full article
US insurers face multi-billion-dollar payout over May storms: Aon
11th June 2021
Re/insurance broker Aon has reported that US re/insurers will likely face a multi-billion-dollar payout over a series of convective storms in May that resulted in extensive hail, tornado, wind and flood damage. Of note was a severe storm that swept across the Plains, Lower and Middle Mississippi Valley, Southeast and Mid-Atlantic ... Read the full article
Aon announces further $1.4bn divestment to appease US regulators
3rd June 2021
Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article
Aon / WTW believe DOJ leadership unlikely to challenge merger: reports
3rd June 2021
Specialist antitrust and mergers and acquisitions (M&A) publisher, CTFN, has reported that Aon and Willis Towers Watson (WTW) believe that leadership at the US Department of Justice (DOJ) is unlikely to challenge their proposed combination. Reports emerged recently that the DOJ has adopted a dual-track strategy for its review of ... Read the full article
Aon/WTW deal entering critical stage as US DOJ refuses to show its hand: reports
2nd June 2021
Reports emerging from specialist publisher The Capitol Forum describe The US Department of Justice (DOJ) as having adopted a dual-track strategy for its review of Aon's proposed acquisition of rival broker Willis Towers Watson. By simultaneously engaging in settlement talks and ensuring trial preparations are underway should it decide to mount ... Read the full article