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 warns of severe convective storm risk, pegs US tornados as multi-billion dollar event
14th December 2021
Aon analysis of the devastating tornado outbreak which swept several US states over the weekend echos other outlet's in its expectation for both economic and insured losses to reach into the billions of dollars. Analysts note how the severe convective storm (SCS) peril has become an increasingly expensive one ... Read the full article
Aon hires Doug Melton as Global Analytics and Actuarial Leader, Health Solutions
8th December 2021
Re/insurance broker Aon has appointed Doug Melton as its new Global Analytics and Actuarial Leader, Health Solutions. In this newly created role, he is responsible for the development and execution of Health Solutions' analytics strategy to deliver additional value to clients through data, research and analytics. Prior to joining Aon, Melton was ... Read the full article
Aon turns to Guidewire for cyber software integration
7th December 2021
Re/insurance broker Aon has announced plans to implement the cyber data listening and modelling collection capabilities offered by specialist firm Guidewire. Aon views the high-profile events of 2021 as having further reinforced industry concerns over the systemic potential of cyber attacks, and the rapid rise of ransomware events. It's hoped Guidewire’s Cyence ... Read the full article
First Superfund deal imminent following regulatory nod, says Aon
1st December 2021
Re/insurance broking giant Aon has underlined the significance of so-called Superfunds and expects the new Pension Risk Transfer (PRT) instrument to be deployed imminently. Superfunds have been introduced to help help counteract emerging gaps between the fixed sums paid out by pension schemes and the income received from investments. The driving concept ... Read the full article
Aon announces launch of Saudi-based reinsurance unit
29th November 2021
Re/insurance broker Aon has announced the formation of a new reinsurance broking unit in Saudi Arabia, Aon Reinsurance Brokers Saudi Arabia LLC (ARBS), with the firm adding Mohammad Al Marhoon to lead as managing director. ARBS received a reinsurance broking licence from the Saudi Central Bank (SAMA). This development is seen as particularly ... Read the full article
Industry guidance on innovation flagged during climate-focused Aon fireside
24th November 2021
While industry momentum against climate change is building, guidance on where specifically to focus innovation efforts, as well as the success of communication between re/insurers and businesses, were both flagged as key areas still being refined and worked through. These comments came during a panel brought together for an Aon-hosted fireside ... Read the full article
Aon & LMA find intragroup reinsurance favoured by managing agents
23rd November 2021
A new study by Aon’s UK Capital Advisory team and the Lloyd’s Market Association (LMA) shows that intragroup reinsurance is favoured as the primary capital optimisation technique among managing agents. A survey of Chief Financial Officers (CFOs) at 28 Lloyd’s managing agents, representing 75% of the market’s capacity for 2021, found ... Read the full article
Jillian Slyfield takes Chief Innovation Officer role at Aon
22nd November 2021
Re/insurance broker Aon has announced the appointment of Jillian Slyfield as its new Chief Innovation Officer, effective December 1st. Slyfield joined Aon in 2015 and most recently served as Digital Economy Practice Leader, where she addressed digital disruption of traditional industries and the on-demand economy. Prior to this, she served as an ... Read the full article
Industry uncertainty throws doubt over future of mega-M&A
18th November 2021
Despite having become an increasingly common feature of the insurance and reinsurance landscape in recent years, the industry's perception of mega-M&A moving forward appears to be one categorised by uncertainty; influenced by an awareness of heightened competition and anti-trust concerns. The results of our H2 2021 Reinsurance Market Survey, held ... Read the full article
Aon partners with ICEYE to manage climate risks in Japan
17th November 2021
Aon plc has collaborated with satellite and persistent monitoring expert ICEYE to provide insurers with flood hazard data following severe flooding events in Japan, helping them to reduce volatility and better understand the post-event impact on their portfolios. According to the Japan Meteorological Agency (JMA), Japan experiences an average of three ... Read the full article
New reinsurance capacity expected to set a record: Aon
17th November 2021
According to a new report from re/insurance broker Aon, total capacity is expected to set a record as reinsurers reported strong earnings for the first half of 2021. This is despite challenges from increased volatility, particularly related to ongoing COVID-related litigation, property catastrophe frequency, and inflationary pressures. The broker reported that $25.1 ... Read the full article
Willis Towers Watson names Aon’s Hugo Wegbrans as Global Head of Broking
15th November 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has hired Hugo Wegbrans from rival broker Aon as its new Global Head of Broking and Broking Strategy. Effective early next year, Wegbrans will join the company's Risk and Broking business operation. He joins from Aon, where he most recently served as Leader ... Read the full article
Multi-billion dollar US floods drive up global nat cat bill for October: Aon
15th November 2021
A series of flooding events during October resulted in billions of dollars worth of economic costs, according to Aon's monthly natural catastrophe report. Meanwhile, a late-season severe weather outbreak in the US’ Southern Plains and Midwest generated large hail, damaging winds and tornadoes between Oct. 10 and 11. Aon says total economic ... Read the full article
Aon to bolster cyber capabilities with Guidewire Software partnership
5th November 2021
Aon is set to implement cyber data listening and modelling collection technology offered by Guidewire Software, as the broker looks to enable improved risk quantification and improve underwriting confidence more broadly. Aon cites a desire to more effectively model client portfolios and develop new underwriting solutions as a driving factor of ... Read the full article
TWIA may drop broker GC in favour of Willis Re, with Aon preferred for modelling services
3rd November 2021
The Texas Windstorm Insurance Association (TWIA) looks set to pivot towards Willis Re for its reinsurance broking needs following a meeting of its actuarial & underwriting committee. This switch would see TWIA terminate its current broking relationship with broking rival Guy Carpenter. The committee, which is reported to have considered Guy Carpenter ... Read the full article
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