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 & Praedicat collaborate to address reinsurance coverage gaps in casualty
2nd March 2021
A new collaboration between re/insurance broker Aon and Praedicat, a liability emerging risk analytics company, looks to address reinsurance coverage gaps arising from emerging risks through the development of "named peril" products for insurers. The partnership will result in the development of a range of specialist liability reinsurance solutions that address ... Read the full article
Aon / WTW deal circled by merger arb & event driven hedge funds
26th February 2021
The Aon and Willis Towers Watson (WTW) deal, which will be the largest insurance and reinsurance broker merger or acquisition in history, is now attracting significant attention from investors in the merger arbitrage and event driven hedge fund space. Just in the last two weeks, we've heard from numerous global investment ... Read the full article
Aon adds Tim Radford, Marcus Foley to reinsurance capital management team
24th February 2021
Global re/insurance broker Aon has made two keys leadership appointments within its reinsurance solutions unit, adding Tim Radford to its London capital advisory team and naming Marcus Foley head of capital management in Bermuda. Radford will look to bolster the team’s capabilities in Lloyd’s capital optimization and Funds at Lloyd’s (FAL) ... Read the full article
US winter storm Uri set to inflict record-breaking, multi billion-dollar industry losses
19th February 2021
Winter storm Uri, currently wreaking havoc across southern US states, looks set to become the largest on record for re/insurers, potentially surpassing the cost of 2017’s hurricane Harvey. Storm Uri landed over the US’ President's Day weekend bringing damaging ice in the Northwest and snow across the Midwest and Northeast. Texas has ... Read the full article
Aon and WTW merger will “significantly lessen competition” in Australia
18th February 2021
The Australian Competition & Consumer Commission (ACCC) is concerned that the proposed combination of Aon and Willis Towers Watson (WTW) will significantly lessen competition in the supply of commercial risk, reinsurance and employee benefits broking and advisory services in Australia. The announcement from the ACCC comes just weeks after the ... Read the full article
Aon secures ARPC account from Guy Carpenter
17th February 2021
The Australian Reinsurance Pool Corporation (ARPC), Australia's government-led terrorism reinsurance agency, has named Aon as its reinsurance broker. The new agreement see’s Aon beat rival Guy Carpenter to the contract. Guy Carpenter had previously served the role. Mike Pennell PSM, ARPC’s Chief Underwriting Officer will oversee the transition-in and commencement of broking ... Read the full article
Aon & Chubb launch digital insurance platform for SMEs in France
11th February 2021
Global insurance and reinsurance broker Aon has partnered with Chubb to provide small and medium-sized businesses in France with an efficient means to understand coverage options and purchase insurance online. The new digital Aon platform in France is powered by the broker's CoverWallet company, offers more than 10 insurance products from ... Read the full article
Severe snowfall in Spain leads to multi-billion economic loss: Aon
10th February 2021
Reinsurance broker Aon has launched its latest edition of its monthly global catastrophe recap report, which evaluates the impact of the natural disaster events that occurred worldwide during January 2021. The report reveals that a low-pressure system ‘Filomena,’ caused severe snowfall in Spain, leading to business interruption and property losses tentatively ... Read the full article
EC suspends review of Aon / WTW combination
10th February 2021
The European Commission (EC) has reportedly halted its investigation into the proposed combination of Aon and Willis Towers Watson (WTW) while it waits for more data from the broker, reports Reuters. The EC confirmed back in December that it would conduct an in-depth investigation of the transaction over concerns it ... Read the full article
Willis Towers Watson posts organic reinsurance growth in Q4
9th February 2021
Willis Towers Watson (WTW) has reported organic reinsurance revenue growth over the fourth quarter of 2020, driven by new business generation and favourable renewal factors. Reinsurance led the revenue growth in the broker’s Investment, Risk & Reinsurance (IRR) segment, which posted an overall 1% increase in organic revenue growth. However, this was ... Read the full article
Aon still confident WTW combination will close in H1
8th February 2021
Executives at re/insurance broker Aon have confirmed that they still expect the planned business combination with Willis Towers Watson (WTW) to close in the first half of 2021, despite an ongoing investigation by EU regulators. Speaking as part of a fourth quarter earnings call, Chief Financial Officer (CFO) Christa Davies said ... Read the full article
Aon reports organic reinsurance revenue growth of 12%
5th February 2021
Re/insurance broker Aon has reported organic revenue growth of 12% in its Reinsurance Solutions division during the fourth quarter of 2020. The Reinsurance Solutions business posted revenue of $197 million in Q4 2020, which was 5% up on the $187 million it recorded for the same period in 2019. And the high ... Read the full article
Imperative for businesses to change priorities after COVID: Aon
4th February 2021
A new report by re/insurance broker Aon shows that 82% of global firms did not rank a pandemic or other major health crisis within their top 10 risks prior to the outbreak of COVID-19. Additionally, less than 30% of EMEA respondents to a survey by Aon said they had a pandemic ... Read the full article
Aon enhances healthcare platform with EoG’s voice AI technology
29th January 2021
Re/insurance broker Aon has entered into a new partnership with Elements of Genius (EoG), one of the fastest growing privately held Artificial Intelligence (AI) companies in the U.S., to empower Aon's GoodMe platform with dynamic voice chatbots. Under the new collaboration, GoodMe, which is Aon's healthcare services platform, will be powered ... Read the full article
Aon / WTW unveil new Executive Committee for combined entity
27th January 2021
Ahead of the proposed combination of global insurance and reinsurance brokerages, Aon and Willis Towers Watson (WTW), the companies have announced the new leadership team, led by Greg Case as Chief Executive Officer (CEO). It was confirmed in March of 2020 that the pair had reached an agreement to combine ... Read the full article