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.
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
Aon & WTW disclose more on combination to fend off legal challenges
4th August 2020
In an effort to ward off legal challenges delaying Aon's combination with Willis Towers Watson (WTW), the global re/insurance broker has disclosed some additional details associated with the deal. After weeks of speculation, Aon confirmed in March of this year that it will combine with rival broker WTW through a ... Read the full article
Aon appoints Turner head of UK property within reinsurance solutions unit
3rd August 2020
Re/insurance broker Aon has appointed Catherine Turner as head of UK property within its reinsurance solutions business. She will also co-lead Aon's UK & Ireland and specialty casualty business with Richard Evans. Turner will report to Peter Stubbings, Reinsurance Solutions’ Chief Executive Officer of Global ReSpecialty. She has more than 20 years’ experience in ... Read the full article
Aon sees Willis Re as complementary, divestiture unnecessary: Execs
31st July 2020
Aon's senior leadership, including CEO Greg Case, explained today during a quarterly earnings call that the company isn't expecting to need to divest significantly, as it combines with Willis Towers Watson (WTW) when the acquisition is realised. Case, the Chief Executive Officer of insurance and reinsurance broker powerhouse Aon, said before ... Read the full article
Aon posts organic reinsurance revenue growth of 9%
31st July 2020
Re/insurance broker Aon has reported organic revenue growth of 9% in its Reinsurance Solutions division for the second consecutive quarter this year. The Reinsurance Division posted revenue of $448 million in Q2 2020, compared with $420 million for the same period last year. This followed organic revenue growth of 9% ... Read the full article
Spike in home workers a new opportunity for cyber criminals: Aon, CyberCube
30th July 2020
COVID-19 and the resultant move to widespread homeworking has created new vulnerabilities for criminals to exploit, according to cyber analytics expert CyberCube and re/insurance broker Aon. According to the report, homeworking has exposed new access points for cyber criminals to gain entry to corporate systems including domestic PCs, laptops and Wi-Fi ... Read the full article
Insured nat cat losses exceed 20-year average in H1 at $30bn+, says Aon
22nd July 2020
Globally, insured losses from natural catastrophes exceeded $30 billion in the first six months of 2020, which is roughly 8% above the 20-year average of $28 billion, according to the latest Global Catastrophe Recap report from Impact Forecasting, re/insurance broker Aon's catastrophe model development team. The report notes that a total ... Read the full article
Reinsurance premiums to decline through 2020: Aon
21st July 2020
According to the new Reinsurance Market Outlook by Aon, reinsurance market premiums are set to decline to varying degrees through 2020 due to the challenges of the COVID-19 pandemic. In auto lines in particular, premium refunds have been widespread due to the reductions in miles driven under lockdown conditions. Aon believes the ... Read the full article
US records $2.3bn+ economic loss from severe weather in June: Aon
16th July 2020
Global re/insurance broker Aon has released its latest Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during June 2020. Several severe weather outbreaks in the United States in June resulted in an economic loss exceeding $2.3 billion. The costliest event was a prolonged weather ... Read the full article