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.
‘Resilience’ emerges as key theme in global insurance landscape in 2023: Aon
8th February 2024
In a comprehensive analysis of the global insurance landscape, Aon's latest report for Q4 2023, led by Joe Peiser, Chief Executive Officer of Commercial Risk Solutions, highlights resilience as the defining theme of the year. Despite economic volatility, geopolitical instability, and mounting climate concerns, communities and businesses have demonstrated remarkable resilience. The ... Read the full article
We’re heading towards an environment where it’s more a series of P&C markets: Aon President
2nd February 2024
While the outlook for property and casualty (P&C) pricing remains favourable for 2024, Eric Andersen, President of re/insurance broker Aon, expects a transition to a more product and risk specific marketplace over the next 12-24 months. Following the release of a solid set of results for 2023, Aon executives held ... Read the full article
Aon’s Reinsurance Solutions posts 14% organic revenue growth in Q4’23
2nd February 2024
Aon's Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attributes the growth in its reinsurance segment to strong growth in treaty as a ... Read the full article
Windstorms Isha and Jocelyn to cause hundreds of millions of EUR in losses across Europe: Aon
29th January 2024
Despite the storms' impacts being labeled as moderate compared to initial projections, the economic losses from Windstorms Isha and Jocelyn are anticipated to climb into the hundreds of millions of euros, according to Aon’s latest weekly cat report released on January 26, 2024. Following substantial wind-related losses caused by earlier storms ... Read the full article
Prolonged winter storms in US result in cat losses exceeding hundreds of millions of USD: Aon
29th January 2024
With the cumulative effects of the winter storms across the United States, total economic and insured losses are anticipated to surge into the hundreds of millions USD, possibly higher, according to Aon’s latest weekly cat report released on January 26, 2024. Severe winter storms have besieged the US for three consecutive ... Read the full article
Aon adds former Santander CEO Jose Antonio Álvarez to Board
26th January 2024
Insurance and reinsurance broker Aon has added Jose Antonio Álvarez, the former Chief Executive Officer (CEO) of Santander, to its Board of Directors, effective January 24th, 2024. Lester B. Knight, Chair of Aon's board, commented on the appointment, "We are pleased to welcome Jose Antonio to Aon's Board of Directors. His ... Read the full article
Aon and Porch enter $30m strategic agreement including release of Vesttoo fraud claims
26th January 2024
Porch Group, a software-driven financial services firm and Aon have entered into a $30 million strategic agreement whereby the re/insurance broker will provide services to the company. Interestingly, the agreement includes the release of all claims Porch had against the broker related to the Vesttoo fraud. This collaboration is with Aon ... Read the full article
Aon CEO Greg Case urges immediate action to address climate risks
24th January 2024
In Aon's 2024 Climate and Catastrophe Insight report, CEO Greg Case emphasises that climate risk is not a mere probability but a certainty that demands urgent attention. Reflecting on the severe weather events that transpired in 2023, including wildfires, floods, and record-breaking heatwaves, Case asserts that these events pose an ... Read the full article
Global insured losses from natural disasters hit $118bn in 2023: Aon
23rd January 2024
In its recently published 2024 Climate and Catastrophe Insight report, insurance and reinsurance broker Aon disclosed a huge $118 billion in global insured losses during the 12-month period under review. This marks the fourth consecutive year that insurance losses have exceeded the 21st-century average, reflecting the increasing impact of natural disasters ... Read the full article
Aon names Ardonagh Specialty’s Steve Dando as CEO of EMEA, Strategy & Technology
19th January 2024
Insurance and reinsurance brokerage Aon has hired Steve Dando from Ardonagh Specialty as Chief Executive Officer (CEO) of EMEA for its Strategy and Technology Group, based in London. In his new role, Dando will report to Sherif Zakhary, CEO of Aon’s Strategy and Technology Group. He will be tasked with leading strategy ... Read the full article
Aon names Jane Kielty UK CEO to spearhead growth plans
9th January 2024
Global professional services firm Aon has appointed Jane Kielty as UK Chief Executive Officer. Kielty first joined Aon in 2005, becoming the firm's Chief Commercial Officer in 2021, and later progressing to be head of Commercial Risk UK. Aon said that in these positions, she played a pivotal part in ensuring the ... Read the full article
Misui Bussan Pana Harrison appoints Aon’s Yi Head of Treaty Reinsurance
8th January 2024
Misui Bussan Pana Harrison, the Singapore based re/insurance broker that is 51% owned by the Mitsui & Co of Japan, has appointed Inyeong Yi as Head of Treaty Reinsurance and Strategic Growth. He joined the company in December, after more than 11 years of service at broking group Aon. In his most ... Read the full article
Alternative capital surpasses $100bn in 2023, cat bond market hits all-time high: Aon
4th January 2024
Aon's Reinsurance Market Dynamics report reveals that 2023 witnessed an unprecedented surge in the utilisation of alternative capital, marking the sector's best performance in over two decades. The report underscores the increasing reliance on alternative capital, with a notable milestone of crossing the $100 billion threshold for the first time, signaling ... Read the full article
Global reinsurer capital increased to $635bn over first 9M 2023: Aon
4th January 2024
Global reinsurer capital rose by $45 billion to $635 billion over the nine months to September 30, 2023, driven by retained earnings, recovering asset values and new inflows to the catastrophe bond market, according to insurance and reinsurance broker Aon. As per the firm's latest Reinsurance Market Dynamics, shareholders’ equity reported ... Read the full article
Aon calls for sustained re/insurance symbiosis after ‘relatively smooth’ 1.1 renewal
3rd January 2024
After a challenging year for many cedents, insurance and reinsurance broker Aon has reported a "relatively smooth" January 1st, 2024, reinsurance renewal, characterised by a rebound in profitability, rebuilding capital positions, and increased availability of retrocession capacity. Aon's latest Reinsurance Market Dynamics report notes increased appetite from reinsurers at 1.1 2024 ... Read the full article
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