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.
Coinbase & Aon exploring plans to set up captive crypto insurer
11th July 2019
Coinbase, a San Francisco-based digital currency exchange, is exploring plans to set up its own captive insurance company with the help of re/insurance broker Aon, according to reports from coindesk. The company would insure risks related to crypto-currencies, an area Aon took its first steps in earlier this year via the ... Read the full article
Most of $2bn June European weather losses insured: Aon
11th July 2019
A series of severe weather outbreaks that swept across Europe in June is expected to have generated over $2 billion in economic losses, most of which will be covered by insurers. The latest catastrophe report from global re/insurance brokerage Aon describes how multiple countries across Central Europe were hit with large ... Read the full article
Traditional sector drives rebound in global reinsurance capital: Aon
9th July 2019
Global, dedicated reinsurance capital increased by 3% in the first-quarter of 2019 to $605 billion, driven by growth in the traditional sector which more than offset a decline in alternative reinsurance capital, according to insurance and reinsurance broker, Aon. According to the broker's Reinsurance Market Outlook report, from the end of ... Read the full article
Aon launches new IFRS 17 solution on capital modelling platform
9th July 2019
Re/insurance broker Aon has launched a new solution for International Financial Reporting Standard 17 (IFRS) on its ReMetrica capital modelling platform, which aims to help insurers fulfil their reporting obligations. According to Aon’s analysis, over 1000 re/insurers worldwide are implementing IFRS 17, issued by the International Accounting Standards Board, to implement ... Read the full article
Continued, accelerated cyber risk growth expected in the captive market: Aon
3rd July 2019
It's estimated that more than a third of all captives will be underwriting cyber risk in five years' time, underpinned by accelerated premium growth for cyber risks in the global captives market, according to insurance and reinsurance broker, Aon. A recent survey and accompanying report from Aon, discusses current trends in ... Read the full article
Aon secures eighth bulk annuities purchase across Smiths Group pension schemes
3rd July 2019
Global re/insurance brokerage Aon has now secured eight bulk annuities across the Smiths Group's two pension schemes, totalling approximately £1.6 billion. The £3 billion Smiths Industries Pensions scheme has secured its eighth bulk annuity purchase and its second with Canada Life. The new £176 million bulk annuity is part of a ... Read the full article
Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka
1st July 2019
Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article
Aon targets improved customer engagement with Hi Marley partnership
21st June 2019
Global re/insurance brokerage Aon has entered into a strategic alliance with Hi Marley, an insurance-focused conversation platform that leverages industry-specific artificial intelligence (AI) and functionality to improve customer engagement. In response to policyholders demanding faster and more efficient ways to speak with their insurance company through the cycle of their policy, ... Read the full article
Scale critical to reinsurers in 2019, demand recovering: van Slooten, Aon
20th June 2019
The shift in reinsurance market dynamics following the catastrophe events of 2017 has resulted in a critical need for scale, according to Mike van Slooten, Head of Business Intelligence at global insurance and reinsurance broker, Aon. Addressing an audience this morning at the Aon United ILS Event in London, UK, van ... Read the full article
US cyber premiums up 10% to $2.03bn in 2018: Aon study
17th June 2019
A new study by global re/insurance brokerage Aon indicates that cyber premiums grew to just over $2 billion in 2018, roughly a 10% increase from the prior year. Premiums from package business grew modestly, rising 6% year on year, while standalone cyber premiums grew 14%. Premiums for small commercial-focused cyber insurers ... Read the full article
Economic losses from June flooding in south-eastern China hits almost $2bn: Aon
17th June 2019
Severe flooding from heavy rainfall that hit a number of provinces in south-eastern China during the first two weeks of June is expected to result in economic losses of almost $2 billion (CNY13.35 billion), with the majority of this unlikely to be covered by insurance protection. The latest weekly catastrophe report ... Read the full article
Aon partners on crypto asset storage insurance solution
14th June 2019
A panel of London insurers arranged by Aon will offer a crime insurance product to clients of SILO, a solution from Swiss financial technology firm METACO. SILO is METACO’s integrated hot-to-cold wallet management solution for financial institutions and is designed to help clients protect digital assets from losses resulting from loss, ... Read the full article
Richard Phelps joins Aon’s Enterprise Client Group in London
13th June 2019
Global insurance and reinsurance broker Aon has named Richard Phelps as an Enterprise Client Group Leader in the UK, based in London. In his new role, Phelps will report to Jim Herbert, Co-Global Head of Aon's Enterprise Client Group. He joins from Barclays Investment Bank, where he held numerous senior client-focused ... Read the full article
Aon adds Guangjie Hopton to Intellectual Property Solutions team in Asia
12th June 2019
Aon has expanded its Intellectual Property Solutions team with the addition of Guangjie Hopton, who will focus on clients in China and the broader Asia region. Hopton joins the broker from Alibaba Group in Hong Kong, where she has spent the previous 14 years, including as Assistant General Counsel for International ... Read the full article
GrainCorp secures 10-year drought protection via Aon’s White Rock
10th June 2019
GrainCorp, the largest grains company on Australia’s east coast, has signed a ten-year agreement with an unnamed insurer designed to help manage the risk associated with grain production volatility. GrainCorp will receive a production payment each year of up to AU$80 million should annual levels drop below 15.3 million tonnes. If production ... Read the full article
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