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 enhances its catastrophe forecasting model
25th March 2022
Aon is to enhance its Impact Forecasting catastrophe model for severe convective storm (SCS). The insurance broker said it will incorporate the latest climate science gained from a collaboration with academic researchers Dr. Robert Trapp from the University of Illinois at Urbana-Champaign, and Dr. John Allen from Central Michigan University. The data ... Read the full article
Aon names Colin Forrest as CEO, consulting
24th March 2022
Aon plc has appointed Colin Forrest as its insurance consulting team’s global chief executive officer in the firm’s Reinsurance Solutions arm. Forrest will be based in London and joins from WTW, where he was EMEA Regional Leader of WTW’s Insurance Consulting & Technology practice. Prior to WTW, he has held senior roles ... Read the full article
McGill and Partners names Aon’s Mignon as CFO
22nd March 2022
Boutique specialist re/insurance broker McGill and Partners has appointed Dominic Mignon as Deputy CFO at McGill and Partners, and CFO of McGill and Partners Ltd, after spending the past 23 years at Aon. Mignon holds just under 25 years’ experience in the industry, having started his career at Benfield delivering impact ... Read the full article
“Japan earthquake losses likely to go into the billions” – Aon
18th March 2022
The economic toll of the earthquake that struck off the coast of Tokyo this week is likely to be in the billions, says Aon. Harkening back to a $2bn+ industry loss from 2021, Aon said that recent historical performances of similar earthquakes had resulted in billion-dollar economic losses. Back then, the magnitude ... Read the full article
Aon & WTW both pull business from Russia
14th March 2022
Broking giants Aon and WTW have both announced plans to withdraw all businesses from Russia, in response to the country’s invasion of Ukraine. Following the lead of Marsh McLennan last week, this means the world’s three largest insurance brokers have now all severed ties with Russia. Insurers such as Generali ... Read the full article
Aon appoints new chief strategy officer capital advisory
11th March 2022
Aon has appointed a new chief strategy officer capital advisory in Jim Fiore. The move was announced on LinkedIn by Fiore. His previous role was as chief reinsurance officer at QBE Insurance Group. Fiore joins Aon after almost three decades with QBE where he held numerous roles during his tenure, including as ... Read the full article
Aon updates Impact Forecasting Europe windstorm cat model
8th March 2022
Aon has updated the functionality of its Impact Forecasting Europe windstorm catastrophe model, following insights gained from outbreaks of severe weather in recent years as well as user feedback. Windstorms in Europe have caused $123 billion of insured losses and annual average losses of $3.0 billion since 1980, according to the ... Read the full article
Aon finds many insurance sectors experiencing ‘challenging’ circumstances
2nd March 2022
Conditions within many of the the insurance sectors are ‘challenging’, according to the latest Markets Dynamic report from Aon. The report specifically pointed to four sectors—casualty and liability, cyber, property, and employers liability and workers’ compensation—are being in ‘challenging’ or ‘very challenging’ circumstances. In regards to casualty and liability, Aon said: “The ... Read the full article
Aon acquires Tyche actuarial software platform
1st March 2022
Aon plc has acquired actuarial software platform Tyche from technology and software firm RPC Tyche, which will provide re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business. Tyche is a specialist in developing customised ... Read the full article
Aon hit by cyber attack
28th February 2022
Global insurance and reinsurance broker Aon was hit by a cyber attack on February 25th, 2022, according to an 8-K filed with the Securities and Exchange Commission (SEC) in the U.S. In its filing, Aon states that it identified a cyber incident impacting a limited number of systems. In response, Aon promptly ... Read the full article
Aon appoints leaders for SSI practice in North America
25th February 2022
Re/insurance broker Aon has announced it has formalized its Strategic Solutions and Innovation (SSI) practice within Commercial Risk Solutions in North America, with Ward Ching and Michael Gruetzmacher set to spearhead the practice. Ching serves as Head of Strategic Solutions and Innovation and Gruetzmacher as Head of Alternative Risk Transfer and ... Read the full article
GIBA names Aon’s Paul Sykes as Deputy Chair
24th February 2022
The Guernsey International Business Association (GIBA) has appointed Paul Sykes, Managing Director at Aon, as its new Deputy Chair. Sykes has worked with Aon for over 25 years and has helped develop businesses for Aon and the White Rock Group in Guernsey, Gibraltar and Malta. He is the former Chairman of the ... Read the full article
Inflation is a longer-term positive for Aon, says CFO Davies
14th February 2022
Christa Davies, Chief Financial Officer (CFO) at Aon, has said that she considers inflation to be a positive trend for the re/insurance broker over the longer term. Speaking in a Q4 earnings calls, the executive acknowledged that in the short-term, inflation would inevitably have a financial impact on the business due ... Read the full article
Aon expecting single-digit growth in revenues this year
7th February 2022
Aon has predicted organic growth in its revenues in the mid-single digits or higher over this year. In an earnings call to reveal its Q4 earnings, Christa Davies, CFO of the re/insurance broker, said that this trend would not only be seen over 2022, but would extend over the long term. On ... Read the full article
Aon hires Intl. Head of Cyber Analytics, Reinsurance Solutions
4th February 2022
Re/insurance broker Aon has announced the appointment of Rory Egan as International Head of Cyber Analytics for its Reinsurance Solutions unit, based in London. He joins the company from Munich Re, where he has spent the previous five years. Most recently, Egan worked as a Senior Underwriter for Munich Re’s Cyber Centre ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
