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 / WTW divestitures would reduce benefits of merger: KBW
16th December 2020
Following reports that regulators may investigate the merger deal between Aon and Willis Towers Watson (WTW) on anti-trust grounds, analysts at KBW have warned that any resulting divestitures could reduce the benefits of the combination. Sources at Reuters said yesterday that a full-scale review into the $30 billion Aon / ... Read the full article
EU to investigate Aon / WTW merger: reports
15th December 2020
The huge merger deal between brokers Aon and Willis Towers Watson (WTW) is set to undergo an in-depth probe by European Union (EU) regulators due to its complexity, sources have told Reuters. According to these inside sources, the $30 billion deal faces a full-scale review once the European Commission’s preliminary ... Read the full article
BBC Pension Scheme secures £3bn longevity swap with Zurich, Canada Life
15th December 2020
The BBC Pension Scheme has secured a longevity swap with global insurer Zurich for more than £3 billion of pensioner liabilities. Reinsurer Canada Life was also involved in the de-risking transaction, providing cover to Zurich. The deal will give the BBC scheme and the BBC, as sponsoring employer, with protection against the ... Read the full article
Aon extends partnership with parametric tech firm CelsiusPro
15th December 2020
Re/insurance broker Aon has extended its long-term collaboration with parametric technology firm CelsiusPro. Aon’s Innovation and Solutions team is reported to have seen a dramatic increase in the number of clients seeking to understand how they might supplement or replace their existing risk transfer programmes with parametric structures to potentially improve ... Read the full article
Aon buys 49% stake in Indian broker Anviti
14th December 2020
Global re/insurance broker Aon has acquired a 49% equity stake in Anviti, an India-based provider of reinsurance, insurance broking & risk management insurance services. It's hoped this strategic investment will enable Anviti, a company promoted by institutional investor Catamaran Ventures, to bolster its operations in the country while leveraging support from ... Read the full article
November storms raise Atlantic season financial toll: Aon
11th December 2020
Aon's November monthly Global Catastrophe report highlights an estimated $9 billion in additional losses as a result of North America hurricane landfalls in the period, as well as record-setting tropical cyclones. After making landfall and driving significant losses in Nicaragua, Hurricane Eta then moved to Honduras and Guatemala, subsequently making a ... Read the full article
Aon launches new digital cyber offering
3rd December 2020
Re/insurance broker Aon has announced the launch of a new digital insurance solution for small and middle market businesses. This digital solution is designed for any business generating up to $100 million in annual revenue across sectors including retail, technology, professional services and manufacturing. The offering builds on other insurance products that ... Read the full article
Marcus Taylor joins Aon’s Global ReSpecialty division
3rd December 2020
Marcus Taylor has joined the Global ReSpecialty division of global broker Aon's Reinsurance Solutions arm, focusing on Non-Marine and Specialty business, effective December 2nd, 2020. As part of the Global ReSpecialty team, which has a focus on large reinsurance and retrocession deals, Taylor reports to Richard Wheeler, Divisional Director for Non-Marine ... Read the full article
Aon & HSCM launch $70mn catastrophic cyber product
19th November 2020
Global insurance and reinsurance broker, Aon, has collaborated with Hudson Structured Capital Management Limited (HSCM) on the launch of a new product designed to protect re/insurers against systemic and catastrophic cyber events. Driven by growing awareness at C-suite level, reputational risk and regulation, alongside an increasing number of cyber attacks, the ... Read the full article
Aon hires Karen O’Donnell as Client Director
19th November 2020
Global re/insurance broker Aon has appointed Karen O’Donnell as Client Director within its PFI and Infrastructure team. O’Donnell will report to Paul Tubb, Executive Director & PFI Team Leader and be based in Edinburgh. Her role will take place effective immediately. She has over 30 years of insurance experience, having held roles as ... Read the full article
Aon launches APAC Capital Advisory unit
18th November 2020
Global re/insurance broker Aon has launched an Asia Pacific Capital Advisory unit within its Reinsurance Solutions division, with an aim of delivering a more holistic capital optimisation approach for reinsurers. The launch follows Aon’s Capital Advisory units in the UK and US, where its aim has been to help re/insurer clients ... Read the full article
Canada Life secures £146mn bulk annuity deal with Smiths Industries
17th November 2020
Canada Life has secured their tenth bulk annuity purchase, a £146 million bulk annuity with the Smiths Group pension scheme. The £3 billion Smiths Industries Pension Scheme has secured the bulk annuity with Canada Life after the auction process was redesigned to accommodate the post-COVID-19 market conditions. The transaction was described as having taken ... Read the full article
Aon forecasts continued growth for US homeowners insurers
11th November 2020
Analysis by global insurance and reinsurance broker, Aon, claims that U.S. homeowners direct written premiums are projected to hit $105 billion in 2020, representing an increase from the $104 billion total recorded for 2019. Aon's latest Homeowners ROE Outlook report, which is developed by the firm's Reinsurance Solutions' Analytics team, predicts ... Read the full article
Aon appoints Guido Benz as CEO of Global Renewables business
10th November 2020
Aon, the global insurance and reinsurance brokerage firm, has announced the appointment of Guido Benz as Chief Executive Officer (CEO), Global Renewables, Commercial Risk Solutions, effective spring 2021. In his new role, Benz will be based in Zurich and will report to Lee Meyrick, Co-Lead, Global Specialties and CEO, Global Marine, ... Read the full article
UK risk settlement market still thriving despite a lack of jumbo deals: Aon
10th November 2020
The UK risk settlement marketplace has seen fewer jumbo deals this year than in 2019, but re/insurance broker Aon still expects it to reach more than £50 billion by the end of 2020 as activity increases among mid-sized and smaller schemes. Earlier in the month, Aon said that the risk ... Read the full article