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.
Lockton Re adds Bisset & Foreman from Aon
10th June 2020
Lockton Re, the reinsurance broking arm of the privately held and independent intermediary, has added two senior appointments in Bob Bisset and Matt Foreman from Aon. The two senior London hires see the broker make steps towards the build-out of a new retrocessional reinsurance practice. Bisset has been with Aon for almost ... Read the full article
Cyclone Amphan’s $15bn impact mostly uninsured: Aon
10th June 2020
Analysts at re/insurance broker Aon estimate that Cyclone Amphan will drive $15 billion of economic losses across India, Bangladesh and Sri Lanka, although most of the damage is expected to be uninsured. The cyclone made landfall in coastal areas on May 20th as a Category 3 storm with winds gusting up ... Read the full article
Aon adds Harriet Clarke to AMATS unit, launches real estate M&A solution
8th June 2020
Global re/insurance broker Aon's M&A and Transaction Solutions (AMATS) unit has announced the appointment of Harriet Clarke as Director, concurrent to the launch of its Real Estate Solution for M&A transactions (ARES). Clarke is a solicitor who joins Aon from PwC, where she served as head of the corporate real estate ... Read the full article
Reinsurance is again “performing quite well”, says Paul Schultz, Aon Securities
2nd June 2020
While the COVID-19 pandemic brings new challenges, the reinsurance industry is once again performing well during a time of major financial market disruption, according to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities. As part of our sister publication Artemis' series of video interviews with experts and leaders from ... Read the full article
$13bn insured loss from 2020 US severe convective storms: Aon
29th May 2020
Global reinsurance broker Aon has pegged the insured loss in 2020 from US severe convective storm damage at $13 billion. This marks the 13th consecutive year that impacts from the peril in the country have surpassed $10 billion in insured payouts; a trend Aon says signifies a “new normal.” In its weekly ... Read the full article
IRB Brasil Re, Aon launch tool to help analyse pandemic risk exposure
26th May 2020
Brazilian reinsurer IRB Brasil Re is partnering with Aon Resseguros on a tool that allows insurers to analyse the risk exposure of their life and home insurance portfolios and technically estimate possible losses with claims. The analysis will also enable shaping custom-designed coverage products for the pandemic, meeting the expectations of ... Read the full article
Aon announces enhanced workers’ comp cost management tool
26th May 2020
Global insurance and reinsurance broker Aon has announced the release of the latest version of its workers' compensation cost management tool, Aon Spectrum Analytics. The brokerage states that its interactive analytics tool provides organisations with the ability to help manage Total Cost of Risk (TCoR) and track quarterly performance as part ... Read the full article
Aon appoints General Manager for Data & Analytics Services
19th May 2020
Re/insurance broker Aon has promoted Steve Petrevski to the position of Senior Vice President (SVP) and General Manager of Data & Analytic Services. In this role, Petrevski will be responsible for developing Aon’s Data & Analytic Services platform, reporting to John Bruno, CEO of Data & Analytic Services and COO of ... Read the full article
Volatility driving pricing disparity in bulk annuity market: Aon
15th May 2020
Recent volatile market conditions have been driving a much wider range of pricing for pension scheme buy-ins and buy-outs than has been seen over the last decade, according to re/insurance broker Aon. Despite these uncertainties, Aon still forecasts that 2020 will be another busy year for risk settlement, with pension schemes ... Read the full article
Aon/WTW merger talks began in January 2019
11th May 2020
Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article
Aon expands intellectual property offering with new MGA
11th May 2020
Global insurance and reinsurance broker Aon has announced the launch of a new underwriting platform featuring the world's largest capacity for intellectual property (IP) liability risks. Aon says that its latest offering is designed to meet the changing needs of clients' IP exposures, especially in the current distressed economic environment that ... Read the full article
Aon names Matt Wolfe as President of Reinsurance Solutions in Canada
11th May 2020
Re/insurance broker Aon has announced the appointment of Matt Wolfe as the new president of Reinsurance Solutions in Canada. “In his new role, Matt will lead the Canadian Reinsurance solutions team and bring unmatched analytics and insights to clients across the country”, said David Sloan, CEO, Reinsurance Solutions in Canada. “He will ... Read the full article
Ransomware continues to dominate cyber discussion: Aon
8th May 2020
Ransomware continues to dominate the cyber insurance discussion according to broker Aon, with total ransomware incidents up 135% last year and carriers steadily fielding more claims emanating from these attacks. Ransomware infections also continued to affect all industries, although sectors like healthcare, public administration, and education experienced the most reported incidents. But ... Read the full article
Aon reports organic reinsurance revenue growth of 9%
1st May 2020
Re/insurance broker Aon has reported overall revenue growth of 2% to $3.2 billion in the first quarter of 2020, including organic revenue growth of 5%. The result was supported by organic revenue growth of 9% in its Reinsurance Solutions division, the strongest growth of all Aon segments, but still slightly down ... Read the full article
Aon advises Leonardo Electronics Pension Scheme’s £160m buy-in
30th April 2020
Global re/insurance broker Aon has announced its role in advising the trustees of the Leonardo Electronics Pension Scheme on a £160 million pensioner buy-in with Just Group. This is the first buy-in for the scheme designed to reduce risk while still offering accrual of new benefits to active employees. Leonardo is one ... Read the full article