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.
UK bulk annuity sales reached £12.7 billion in H1: Aon
17th September 2020
Re/insurance broker, Aon has reported that UK bulk annuity sales have reached a substantial £12.7 billion in the first half of 2020. This amount has been reached despite challenging market conditions resulting from the COVID-19 outbreak. The market volatility saw a number of schemes reconsider market approaches or temporarily suspend transactions. Throughout ... Read the full article
Stephen Pett joins Aon Reinsurance Solutions in Bermuda as a VP & broker
14th September 2020
Insurance and reinsurance broker Aon has announced that Stephen Pett, formerly of Nephila Capital, is to joins its Reinsurance Solutions operation in Bermuda as a Vice President and broker. Pett is expected to join Aon in Bermuda on September 15th, 2020 and will have a focus on industry loss warranties (ILWs) ... Read the full article
Aon tallies cost of August storms
11th September 2020
Re/insurance broker Aon has estimated that the combined cost of the nine tropical cyclones that made landfall around the globe in August will be nearly $20 billion. The most significant event during the month was Hurricane Laura, which made landfall as a high-end Category 4 storm in Louisiana with sustained over-water ... Read the full article
Aon Reinsurance Aggregate reports 104% CR in H1 as RoE sinks
9th September 2020
The Aon Reinsurance Aggregate (ARA) reported a return on equity (RoE) of -1.5% in the first half of 2020 and a combined ratio of 104%, as reinsurers continue to navigate COVID-19-related impacts on both sides of the balance sheet. Earlier today, Aon Reinsurance Solution's held its virtual reinsurance renewal season press ... Read the full article
Aon sets up coalition in Singapore to aid economic recovery
8th September 2020
Re/insurance broker Aon has formed a new coalition of companies in Singapore to focus on aiding social and economic recovery in the wake of the COVID-19 pandemic. It follows the launch of similar coalitions in Chicago and New York and in London, and plans are underway for another in ... Read the full article
Aon unveils coalition to support COVID-19 recovery phase
7th September 2020
As society continues to move towards the recovery phase of the COVID-19 pandemic, insurance and reinsurance broker Aon has announced the establishment of a coalition of leading London-based businesses, designed to develop key recommendations and guidelines on how companies can operate. The London Work, Travel & Convene Coalition, convened and led ... Read the full article
Aon’s Adam Salama to join Capsicum Re following rebrand to Gallagher Re
4th September 2020
Specialist reinsurance broker Capsicum Re has announced the appointment of Adam Salama as partner, effective March 2021. Salama will be joining the company after the completion of its previously-announced rebrand to Gallagher Re in October 2020. Capsicum Re announced its rebranding decision this week, as part of an effort to align ... Read the full article
Roelant de Haas named CEO of Reinsurance Solutions for Aon Nederland
1st September 2020
Re/insurance broker Aon has announced that Roelant de Haas will become the new CEO of Reinsurance Solutions for its business in the Netherlands. As CEO of Reinsurance Solutions for Aon Nederland, de Haas will be responsible for all reinsurance activities within the country. The appointment is effective from September 1 and will ... Read the full article
Hurricane Laura cost to reach well into billions, take time to calculate: Aon
28th August 2020
While the ultimate financial impact of Hurricane Laura is expected easily reach into the billions of dollars, its large footprint of damage will require a lengthy period of damage assessment, according to Aon's latest catastrophe report. Laura, currently sweeping through Arkansas as a tropical depression, officially became the fourth hurricane of the ... Read the full article
Aon & WTW obtain shareholder approval ahead of combination
27th August 2020
The respective shareholders of global insurance and reinsurance brokers, Aon and Willis Towers Watson (WTW), have voted FOR all proposals surrounding the combination of the two companies. The shareholders of both brokers confirmed their approval of the proposed combination at their respective extraordinary general meetings and at the special meeting of ... Read the full article
Smaller bulk annuity transactions up over H1: Aon
25th August 2020
Re/insurance broker Aon has reported a rise in the number of smaller bulk annuity transactions due to favourable market dynamics over the first half of 2020. According to analysts at Aon, sub-£100 million transactions increased by 20% over H1 compared to the same period last year, and the firm expects this ... Read the full article
Aon sets up Capital Partners team to source ILS capacity
19th August 2020
Re/insurance broker Aon has announced the formation of a new team in its Reinsurance Solutions business that will provide additional sources of ILS capacity to clients. The Capital Partners team will initially bring third-party property catastrophe capacity to clients in London, Bermuda, Europe and Asia, before expanding into other business lines ... Read the full article
Powerful derecho amplifies impact of US storms: Aon
14th August 2020
An active week of US storms was compounded by catastrophic damage resulting from a dangerous derecho event that Aon says severely impacted Iowa and Illinois on August 10, producing peak wind gusts topping 100mph. Aon's weekly natural catastrophe report describes a derecho as a fast-moving cluster of thunderstorms that travels hundreds of ... Read the full article
Aon & Willis Towers Watson deal recommended by proxy advisors
11th August 2020
Proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have recommended the shareholders of both Aon and Willis Towers Watson (WTW) to vote in favour of their combination. In an independent report dated August 7th, 2020 ISS found that "the strategic rationale is sound" and subsequently recommended ... Read the full article
Hurricane Isaias to drive $1bn+ insured & economic losses: Aon
7th August 2020
Economic and insured loss totals from the impact of Hurricane Isaias are each individually expected to surpass the $1 billion threshold, according to analysts at Aon. Isaias swept across the Caribbean over July 28th to August 1st with notable impacts in the Dominican Republic, Puerto Rico, and the Bahamas. It later tracked ... Read the full article