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.
U.S. cyber market continues to grow, remains profitable: Aon
10th July 2018
The latest market update from Aon indicates U.S. cyber insurance is growing increasingly sophisticated while the market expands and becomes less concentrated, resulting in continued profitability and shrinking claims. Following an ‘unprecedented year’ for ransomware attacks a total of 170 U.S. insurers were reportedly writing cyber insurance in 2017, up from ... Read the full article
ACORD, Aon, and Beazley release new Cyber Data Breach Standard
9th July 2018
ACORD, the insurance and reinsurance industry data standards body, has collaborated with Aon and Beazley on the development of the ACORD Cyber Data Breach Standard, a new standard that aims to increase operational efficiency across the global re/insurance value chain. According to a 2017 ACORD survey, nearly 60% of re/insurers consider ... Read the full article
Aon Reinsurance Solutions names head of new Global Portfolio Broking team
4th July 2018
Aon has named Andrew Matson as head of its newly formed Global Portfolio Broking team within its recently established Reinsurance Solutions business. Matson will be tasked with matching cedents seeking additional or specialist capacity with carriers looking to diversify their current risk profile and gain access to non-correlating risks. Most recently, Matson ... Read the full article
Tokio Marine Kiln launches $100mn IP facility with Aon
3rd July 2018
Tokio Marine Kiln, a global provider of specialist and corporate re/insurance, has partnered with Aon and several other Lloyd’s syndicates in establishing a new $100 million intellectual property facility. Led by TMK the facility is to offer tailored cover for businesses of all sizes and will help protect against a wide ... Read the full article
PIC concludes £850m full buyout of the PA Pension Scheme
2nd July 2018
Pension Insurance Corporation plc (PIC) has announced the completion of a full buyout of all members of the PA Consulting Pension Scheme, covering £850 million of liabilities and roughly 2,400 members. PIC, a specialist insurer of defined benefit pension funds, wrote a total £3.2 billion of new business in the first ... Read the full article
Aon expands Intellectual Property offering with new insurance solution
28th June 2018
Aon has announced the introduction of a new Intellectual Property insurance solution, bolstering its current suite of integrated IP capabilities one month after acquiring IP firm 601West. “Considering the current environment, the importance of managing the value creation opportunity afforded by IP and the downside risk mitigation of IP has ... Read the full article
Aon launches significantly updated Thai flood modeling system
20th June 2018
Aon has announced significant updates and readjustments to its Thailand flood catastrophe model in an attempt to improve understanding of the peril and help "insurers increase resilience for businesses and communities." Aon highlights Thailand’s increasing exposure to frequent floods as a result of its growing population and economy. The region was ... Read the full article
LCCG to acquire Equitable Life’s in run-off business
15th June 2018
Life Company Consolidation Group (LCCG) has signed an agreement with The Equitable Life Assurance Society to transfer the company and all of its business to Reliance Life Limited, a specialist UK run-off manager established by LCCG. The proposed transaction will maximise the capital distribution to members by converting Equitable Life’s ‘with ... Read the full article
Cyber insurance premiums to dominate by 2021, says Aon
8th June 2018
By examining insurance purchased by corporate, public sector and not-for-profit organisations between 2013 and 2017, Aon Inpoint - Aon’s data, analytics, engagement and consulting team - has predicted that by 2021 the most rapid growth of premiums will be seen in cyber insurance products, with a global market worth estimated at ... Read the full article
Aon becomes first broker to sign up to UN’s Principles for Sustainable Insurance
6th June 2018
Aon has become the first risk advisor and broker to sign up to the United Nation's Principles for Sustainable Insurance (PSI), which were created to serve as an international framework and initiative for the insurance sector to leverage its unique risk expertise to create a safer, healthier, and more sustainable ... Read the full article
Aon names Marcell CEO of new Reinsurance Solutions division
31st May 2018
Global broking powerhouse Aon has announced that Andrew Marcell has been appointed as the firms Chief Executive Officer of its new Reinsurance Solutions division, effective immediately. Aon recently announced a rebranding of its reinsurance broking unit Aon Benfield to just Aon and has split its operations into new Solutions divisions, one ... Read the full article
Aon establishes new Carrier Solutions groups, appoints Hennessy as CEO
30th May 2018
Re/insurance broker Aon plc has established a new Carrier Solutions group as part of its brand restructure, and has appointed Karl Hennessy as Chief Executive Officer (CEO). The newly formed group is designed to support Aon’s network of Managing General Agents (MGAs) and Managing General Underwriters (MGUs) by delivering innovative products, ... Read the full article
Weather & Climate Risk Innovation Network launched by Aon
24th May 2018
Sector knowledge, experience and expertise from across Aon has been galvanised to create its new Weather & Climate Risk Innovation network, after the firm's Impact Forecasting unit estimated losses from weather events in 2017 topped out at approximately $344 billion. The initiative has been created to address weather and climate risks ... Read the full article
Aon launches Intellectual Property Solutions group, appoints Lewis Lee as CEO
24th May 2018
Leading insurance and reinsurance broker Aon has announced today the the launch of its intellectual Property (IP) Solutions group, in a move aimed at providing increased industry knowledge for clients via an emphasis on strong analytical tools and strategic hiring. To accomplish this, Aon acquired IP industry leader 601West, appointing the ... Read the full article
Aon confident of resurgent longevity swap market
18th May 2018
Following their role as lead transaction advisor for Zurich’s recent longevity swap, covering more than £2 billion of the pensioner liabilities of the National Grid Electricity Group of the Electricity Supply Pension Scheme (ESPS), Aon believes that the longevity swap market is back in business. The transaction, which we covered ... Read the full article
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