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.
Willis Towers Watson posts organic reinsurance growth in Q4
9th February 2021
Willis Towers Watson (WTW) has reported organic reinsurance revenue growth over the fourth quarter of 2020, driven by new business generation and favourable renewal factors. Reinsurance led the revenue growth in the broker’s Investment, Risk & Reinsurance (IRR) segment, which posted an overall 1% increase in organic revenue growth. However, this was ... Read the full article
Aon still confident WTW combination will close in H1
8th February 2021
Executives at re/insurance broker Aon have confirmed that they still expect the planned business combination with Willis Towers Watson (WTW) to close in the first half of 2021, despite an ongoing investigation by EU regulators. Speaking as part of a fourth quarter earnings call, Chief Financial Officer (CFO) Christa Davies said ... Read the full article
Aon reports organic reinsurance revenue growth of 12%
5th February 2021
Re/insurance broker Aon has reported organic revenue growth of 12% in its Reinsurance Solutions division during the fourth quarter of 2020. The Reinsurance Solutions business posted revenue of $197 million in Q4 2020, which was 5% up on the $187 million it recorded for the same period in 2019. And the high ... Read the full article
Imperative for businesses to change priorities after COVID: Aon
4th February 2021
A new report by re/insurance broker Aon shows that 82% of global firms did not rank a pandemic or other major health crisis within their top 10 risks prior to the outbreak of COVID-19. Additionally, less than 30% of EMEA respondents to a survey by Aon said they had a pandemic ... Read the full article
Aon enhances healthcare platform with EoG’s voice AI technology
29th January 2021
Re/insurance broker Aon has entered into a new partnership with Elements of Genius (EoG), one of the fastest growing privately held Artificial Intelligence (AI) companies in the U.S., to empower Aon's GoodMe platform with dynamic voice chatbots. Under the new collaboration, GoodMe, which is Aon's healthcare services platform, will be powered ... Read the full article
Aon / WTW unveil new Executive Committee for combined entity
27th January 2021
Ahead of the proposed combination of global insurance and reinsurance brokerages, Aon and Willis Towers Watson (WTW), the companies have announced the new leadership team, led by Greg Case as Chief Executive Officer (CEO). It was confirmed in March of 2020 that the pair had reached an agreement to combine ... Read the full article
Severe convective storm events the main driver of losses for re/insurers: Aon
26th January 2021
In 2020, the severe convective storm (SCS) peril maintained its status as a primary loss driver for insurers and reinsurers; as the U.S. witnessed a record 14 individual billion-dollar economic loss SCS events, according to global brokerage Aon. The 2020 annual Weather, Climate & Catastrophe report from insurance and reinsurance broker ... Read the full article
Insured 2020 cat losses estimated at $97bn by Aon
25th January 2021
Re/insurance broker Aon has estimated that catastrophe losses insured by the private sector or by government-sponsored programs totalled $97 billion over 2020. Overall economic losses were estimated at $268 billion, caused by 416 catastrophe events, leaving a protection gap of 64%. Aon’s Weather, Climate & Catastrophe Insight report for 2020 also shows ... Read the full article
Willis Re sale deemed necessary for Aon-WTW merger
22nd January 2021
73% of industry participants we approached feel regulators will require Willis Towers Watson to sell its reinsurance subsidiary Willis Re if the much publicised mega-merger with Aon is to go ahead. The two broking giants confirmed that a business combination was being pursued back in March 2020. It's believed such a ... Read the full article
Aon targets rising fuel costs with new insurance solution
18th January 2021
Global insurance and reinsurance brokerage firm, Aon, has launched a new fuel insurance solution for the shipping and aviation industries, backed by AAA-rated credit insurance. Designed to help companies mitigate the impacts of rising fuel costs, the new protection will be activated if the cost of fuel increases and exceeds an ... Read the full article
Aon adds Jennifer Law to Asia Pacific Capital Advisory Unit
18th January 2021
Re/insurance broker Aon has added Jennifer Law to its Asia Pacific Capital Advisory unit, within Reinsurance Solutions. Law reports to Rupert Moore, Chief Executive Officer of Japan for Reinsurance Solutions. She will work with insurance clients across Asia Pacific on strategies designed to improve their capital through the utilisation of Aon’s products ... Read the full article
Capital supply sufficient to meet foreseeable reinsurance demand: Aon
14th January 2021
Aon analysts have described the capital-raising activity following the start of 2020 as having left the global supply of reinsurance capacity broadly unchanged. Overall, supply is considered sufficient to meet foreseeable reinsurance demand, but is likely to be deployed at better terms than have prevailed previously. Aon considers poor reinsurer earnings since ... Read the full article
Despite further losses, the ARA’s CR strengthened in Q3: Aon
13th January 2021
In an improvement from the end of the second-quarter, Aon's Reinsurance Aggregate (ARA) reported a net combined ratio of 102.9% for the first nine months of 2020, amid losses from both the COVID-19 pandemic and natural catastrophe events. When compared with the end of Q2, the ARA's reported net combined ... Read the full article
Traditional reinsurer capital ended Q3 at new high of USD 533bn: Aon
12th January 2021
Global dedicated reinsurer capital rebounded to its pre-pandemic high of USD 625 billion by the end of Q3 2020, aided by continued capital market recovery and capital raises, reports insurance and reinsurance broker Aon. At the end of the third-quarter of 2020, traditional reinsurance capital reached a new high of USD ... Read the full article
UK risk settlement market to continue thriving in 2021: Aon
6th January 2021
Analysts at Aon believe the UK risk settlement market will continue to thrive in 2021, with growth dependent on the number of larger transactions and on the speed at which the market for commercial consolidation develops. The broker noted that activity in the settlement market during 2020 was defined by the ... Read the full article
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