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.
UK bulk annuity market to experience a record-breaking 2023: Aon
3rd October 2023
2023 is expected to be a record-breaking year for the UK bulk annuity market, surpassing the previous peak of £43bn, as it has already seen £21.1bn of business in HY1 which reflects a record first half year, said Aon in a recent report. According to Aon’s data, the latest figure is ... Read the full article
2022 US Cyber insurance premium surge, but CL0P/MOVEit attack threat looms in 2023: Aon
28th September 2023
The National Association of Insurance Commissioners (NAIC) has reported a remarkable 50% increase in US cyber insurance premiums in 2022, totaling $7.22 billion, according to Aon's U.S. Cyber Market Update. While this growth is notable, the industry's performance also reveals emerging challenges, with the CL0P/MOVEit attack taking center stage as a ... Read the full article
Aon launches FI Protect 360 Insurance Solution for financial institutions
27th September 2023
Aon plc, a leading global professional services firm, has unveiled its groundbreaking insurance solution, FI Protect 360, in collaboration with several prominent London market insurers. This innovative offering is tailored to address the critical operational risks confronting modern financial institutions (FIs) comprehensively, revolutionising risk management decisions in the industry. In today's financial ... Read the full article
Jake Nichols joins Aon as Global Reinsurance Clients Leader in Bermuda
25th September 2023
Global professional services firm Aon, has announced the appointment of Jake Nichols as Senior Managing Director, Global Clients Leader, Bermuda, within Reinsurance Solutions. As part of Aon’s Risk Capital capability, Nichols will develop innovative risk transfer solutions that optimise clients’ capital strategies, matching risk with capital to create growth opportunities for ... Read the full article
Aon names Nicola Fraccalvieri as Reinsurance Solutions Leader of EMEA Fac
22nd September 2023
Aon plc, a globally renowned professional services firm, has announced the appointment of Nicola Fraccalvieri as the leader of the EMEA Facultative team within its Reinsurance Solutions division. Based in London, Fraccalvieri will report directly to Alfonso Valera and Tomas Novotny, who serve as the EMEA co-CEOs of Aon's Reinsurance Solutions, ... Read the full article
Aon joins International Emissions Trading Association
18th September 2023
Aon has joined the International Emissions Trading Association (IETA) as the first member with risk capital capabilities. The IETA is a non-profit organisation that sets out to establish an international framework for trading in greenhouse gas emission reductions while "balancing economic efficiency with environmental integrity and social equity." Aon suggests that its ... Read the full article
Ogier advises IFRC on launch of its new risk transfer mechanism
14th September 2023
Ogier's Banking and Finance team in Guernsey has advised the International Federation of Red Cross and Red Crescent Societies (IFRC) on the launch of its new risk transfer mechanism, which will "transform the organisation's approach to disaster response." Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg ... Read the full article
Aon appoints Jeff Plein COO of Asia-Pacific region
13th September 2023
Aon has announced the appointment of Jeff Plein as the Chief Operating Officer (COO) for the Asia-Pacific region. According to Aon, Plein will be based in Singapore, joining its Asia-Pacific Executive Committee and the Aon Business Services Global Leadership Team. He will jointly report to Mindy Simon, Global Chief Operating Officer, and ... Read the full article
Exposure growth drives 80% increase in severe convective storm losses: Aon
12th September 2023
Aon plc, a global professional services firm, has unveiled startling research pinpointing a dramatic 80% rise in severe convective storm (SCS) losses, primarily driven by exposure growth. The findings have far-reaching implications for insurers and reinsurers as they prepare for the Jan. 1, 2024 reinsurance renewal period. Aon's data demonstrates that as ... Read the full article
Aon calls for stability and closer reinsurance relationships ahead of 2024 renewals
7th September 2023
Andy Marcell, the Chief Executive Officer (CEO) of Aon's Reinsurance Solutions, has stressed that clients will be looking for stability and closer relationships with reinsurers heading into the 2024 renewals, following tough renewals throughout 2023. Insurance and reinsurance broker Aon held its Renewal Season Briefing this afternoon, during which Marcell commented ... Read the full article
Reinsurance market gears up for sustainable growth ahead of Jan 1 renewals: Aon
7th September 2023
In a promising turn of events, the global reinsurance market is poised for a more orderly and predictable renewal season ahead of January 1, 2024. Aon's Reinsurance Renewal Season 2023 report highlights the positive outlook, citing a strengthening of relationships and a balanced supply and demand scenario, all bolstered by the ... Read the full article
Aon & Lloyd’s collaborate with IFRC to launch new disaster response risk transfer mechanism
6th September 2023
The International Federation of Red Cross and Red Crescent Societies (IFRC), in collaboration with Aon, Lloyd’s Disaster Risk Facility and the Centre for Disaster Protection, has announced the launch of a groundbreaking financial mechanism to transform disaster response. This tool provides a backstop for the IFRC's Disaster Response Emergency Fund (DREF). According ... Read the full article
Aon appoints Vincent Banton as Head of Construction and Infrastructure, Asia
5th September 2023
Global insurance and reinsurance broker Aon has announced the appointment of Vincent Banton as Head of Construction and Infrastructure for Asia, effective August 1st. Banton will be based out of Singapore and report to Paul Young, Head of Commercial Risk Solutions, Asia and James MacNeal, Global Industry specialty leader for Construction ... Read the full article
Aon teams with Rubrik to help companies maintain cyber resiliency
1st September 2023
Aon, a leading global professional services firm has collaborated with Rubrik, the Zero Trust Data Security company, to help businesses maintain cyber resiliency against modern threats. By working together, Rubrik will be able to expand its portfolio of data protection solutions available to the Rubrik Transform Partner Ecosystem. At the same time, ... Read the full article
Losses from Canada wildfires could reach into the billions: Aon
29th August 2023
Losses from the ongoing wildfire season across Canada could reach into the billions of USD, according to a new report from Aon. As per Aon's weekly cat report released on August 25, more than 1,000 fires were burning in Canada across several provinces and territories. "Over the past week, parts of the ... Read the full article