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.
BMS adds Aon trio to new Australia energy division
16th July 2020
Independent specialist re/insurance broker BMS Group has added Richard Nunny, Ben Humphries and Serai Armstrong to form the energy division of BMS Australia. The three new additions, all previously employed by river broker Aon, join on 3 August and will report to Andrew Godden, Chief Executive Officer of BMS Australia. Nunny was ... Read the full article
Casualty reinsurance demand strong amid market volatility: Aon
15th July 2020
Aon has reported that demand for reinsurance remains strong in the casualty space as insurers continue to deal with the volatile conditions created by rising social inflation and the COVID-19 pandemic. The broker expects reinsurance outcomes to vary widely depending on cedent experience and exposures, but noted that rate improvement now ... Read the full article
Aon adds Tunnicliffe as UK Chairman for Global & Specialty business
14th July 2020
Global re/insurance broker Aon has appointed Andrew Tunnicliffe as UK Chairman, Global & Specialty, part of its Commercial Risk Solutions, Health Solutions and Affinity business. Tunnicliffe joins on July 27 and brings over 30 years' experience in the insurance space. In his last role with Aon, he was UK CEO of Commercial ... Read the full article
Total reinsurance capital declined by 6% to $590bn in Q1: Aon
14th July 2020
Global reinsurance capital declined by 6% from year-end 2019 to end the first-quarter of 2020 at $590 billion, led by a 6% dip in traditional reinsurance and a 4% drop in alternative capital, reports insurance and reinsurance broker Aon. The broker's latest Reinsurance Market Outlook Report highlights a $35 billion decline ... Read the full article
Aon salary reductions were justified, says CEO Greg Case
13th July 2020
Aon CEO Greg Case has defended his company’s decision to temporarily reduce salaries by up to 20% amid the COVID-19 pandemic. Case told the Financial Times that the move had been based on a “sober analysis” of the crisis, but was soon reversed after certain worst case scenarios became less ... Read the full article
Japan flood damage to reach hundreds of millions USD: Aon
10th July 2020
Economic damage from the recent monsoonal flooding in Japan is expected to reach well into the hundreds of millions USD or higher, according to re/insurance broker Aon. The latest catastrophe report by Aon’s Impact Forecasting team also anticipates thousands of insurance claims will result from the flooding, although the General Insurance ... Read the full article
MMC pulls ahead in broker rankings but Aon + WTW could take top spot
3rd July 2020
Marsh & McLennan Companies (MMC) has extended its lead in the rankings of The Top 20 Global Insurance and Reinsurance Broking Groups, although a combined Aon and Willis Towers Watson (WTW) could claim the number one spot. As shown by our directory of the Top 20 Global Insurance & ... Read the full article
Aon decides to end temporary COVID-19 salary reductions of up to 20%
30th June 2020
Aon, the global insurance and reinsurance broker, has made a decision to end the previously announced temporary salary reductions of up to 20%, effective July 1st, 2020 and to repay colleagues in full, plus 5% of the withheld amount. Towards the end of April, re/insurance broker Aon introduced a 20% ... Read the full article
Sandra Lee to join BMS from Aon to lead operations in Asia
30th June 2020
Independent specialist insurance and reinsurance broker, BMS Group, has named Sandra Lee as the Head of its operations in Asia, subject to regulatory approvals. Currently, Lee is based in Hong Kong and she is set to join BMS upon completion of her current contractual obligations with rival re/insurance brokerage Aon. Lee has ... Read the full article
Insurtech growth to remain unaltered by COVID-19: Aon COO
19th June 2020
While investment in insurtech has seemingly been slowed by the ongoing COVID-19 pandemic, the macro growth trend in this space will likely remain unaltered by the crisis. This is according to John G. Bruno, Chief Operating Officer (COO) at Aon plc and Chief Executive Officer (CEO) for Data & Analytic Services, ... Read the full article
US cyber insurance market’s loss ratio up 10% on claims frequency: Aon
17th June 2020
The loss ratio for the U.S. cyber insurance market increased by 10 percentage points year-on-year in 2019 to approximately 45%, as insurers both small and large felt the effects of an increase in ransomware attacks, reports insurance and reinsurance broker Aon. The fifth edition of Aon's annual U.S. Cyber Insurance Profits ... Read the full article
Aon forms coalition to aid COVID-19 economic recovery
15th June 2020
Re/insurance broker Aon has formed a coalition of companies and organisations that will focus on aiding social and economic recovery in the wake of the COVID-19 pandemic. Starting in Chicago, the coalition will create a model and framework to inform criteria and guidelines that will help restart the economy worldwide, with ... Read the full article
Aon partners with TCS on climate risk management
15th June 2020
Re/insurance broker Aon is collaborating with The Climate Service (TCS) to help clients understand and manage climate risks. Aon noted that the COVID-19 pandemic has tested the resilience of economies and is providing an example of how systemic changes can impact financial, economic and social stability. To better prepare companies across all ... Read the full article
Aon partners with GK8 on digital asset coverage
12th June 2020
GK8, a cyber security company that offers technology for managing and safeguarding digital assets, has announced that its product is now insurable via Aon UK Ltd. The partnership will utilise insurance provided by a panel of insurers led by Arch Underwriting at Lloyd’s Syndicate 2012, and will enable GK8 clients to ... Read the full article
Aon enhances CyQu cyber risk assessment to reflect remote working exposures
11th June 2020
Global re/insurance brokerage Aon has announced the expansion of its cyber risk assessment methodology, CyQu Enterprise, to help analyse and understand the cyber security impacts in light of the increase in remote working amid the COVID-19 pandemic. Designed specifically for SMEs, Aon's CyQu is an automated cyber self-assessment. Businesses complete a ... Read the full article