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.
Slight increase in reinsurance demand at 1/1, more focus on emerging risks: Aon
21st January 2019
Despite significant reductions in certain individual placements, the reinsurance industry saw a slight uptick in demand in the January renewals, according to Aon’s 2019 market outlook. Regulatory and rating agency requirements, catastrophe losses resulting from non-peak perils and territories, as well as an ongoing positive buying proposition for insurers were a ... Read the full article
Global reinsurance capital resilient despite two years of losses: Aon
14th January 2019
Dedicated, global reinsurance capital declined by 2% in the first nine months of 2018 to $595 billion, driven by a decline in traditional capital by $20 billion, according to insurance and reinsurance broker Aon. The 2% overall decline to $595 billion at the end of September, 2018, is from the end ... Read the full article
“Interesting” 1/1 market dynamics to continue into April: Aon
11th January 2019
Re/insurance broker Aon has said that the “interesting” market dynamics that affected reinsurance pricing at the recent 1 January renewals are likely to continue to influence rates throughout the coming year. The company’s ‘Reinsurance Market Outlook 2019’ report noted that reinsurance buyers continue to secure protection at accretive cost of capital ... Read the full article
Aon partners with SBC InsurTech
10th January 2019
Re/insurance broking powerhouse Aon has partnered with SBC InsurTech CoLab, a provider of innovation programs for the insurance industry, to better understand and address gaps in clients’ value chains through collaboration with growth-stage startups. Aon will be focusing on CoLab’s ‘Commercial and Specialty Lines’ sector, which will look at specific problems ... Read the full article
Russia’s state-backed RNRC cuts brokerage deal with local Aon subsidiary: Reuters
18th December 2018
The Russian National Reinsurance Company (RNRC), which was created to reinsure Russian firms under Western sanctions, has signed a one-year deal with a local subsidiary of Aon that allows the RNRC to reinsure risks of up to $149 million, according to Reuters. RNRC boss Nikolay Galushin has said the deal with ... Read the full article
Canada Life completes largest bulk buy-in transaction to date
18th December 2018
Canada Life has completed a £625 million buy-in of the Reuters Pension Fund, making it the insurers’ largest ever deal. The transaction is the first in a framework of buy-in transactions for the scheme and covers the majority of pensioner liabilities in the £2.2 billion fund. “The magnitude of this deal reflects ... Read the full article
Wildfire losses to surpass $10bn as property toll reaches 20,000 mark: Aon
23rd November 2018
As the number of properties destroyed by the recent Camp and Woolsey Wildfires in California reaches 20,152, re/insurance broker Aon has claimed that the total economic impact is likely to “minimally exceed US $10 billion; likely higher,” with a majority of these losses covered by re/insurers. While Aon stipulated that it ... Read the full article
Aon appoints Guy Carpenter’s Richard Jones as Exec Chairman, Reinsurance Solutions
21st November 2018
Re/insurance broker Aon has appointed Richard Jones as Executive Chairman of its Reinsurance Solutions business in Asia, effective May 2019. Jones most recently served as Chairman of Asia Pacific at Guy Carpenter, where he spent 31 years working across a variety of roles. His new, Singapore-based role, will see him take responsibility ... Read the full article
Aon develops new Non-Damage Business Interruption cover
20th November 2018
Re/insurance broker Aon has announced the launch of a new Non-Damage Business Interruption (NDBI) cover that is designed to protect the income streams of companies with high levels of intangible assets. Insurance protection for the new NDBI product is provided by a number of major re/insurers, Aon said, including Lloyd’s of ... Read the full article
Insured losses from Hurricane Michael likely to reach $8bn, says Aon
8th November 2018
The latest Global Catastrophe Recap report from re/insurance broker Aon has estimated that total economic losses from Hurricane Michael will exceed US $15 billion, with public and private re/insurers likely to incur pay-outs of at least $8 billion. Aon’s Impact Forecasting team based their estimate on both physical damage and net ... Read the full article
Aon, Etherisc and Oxfam partner on joint micro-insurance program in Sri Lanka
2nd November 2018
Re/insurance broker Aon is collaborating with Oxfam and InsurTech firm Etherisc on a joint program to deliver micro-insurance to small holder paddy field farmers in Sri Lanka using blockchain technology. The parties plan to leverage blockchain to automate parametric insurance products, which will simplify the claims process and remove the need ... Read the full article
London is “insurance sector equivalent of Silicon Valley”, says Aon’s Hennessy
26th October 2018
London’s insurance market has survived multiple challenges over the past 300 years and will not be derailed by issues such as brexit, according to Chief Executive Officer of Carrier Solutions at Aon, Karl Hennessy, who went on to describe London as the “insurance sector equivalent of Silicon Valley." Speaking at the ... Read the full article
Aon reports 8% organic reinsurance revenue growth
26th October 2018
Insurance and reinsurance broking powerhouse Aon has reported 8% organic revenue growth for its reinsurance broking operations during the third-quarter of 2018. Aon's results show that total revenue was flat across the company at $2.3 billion, but that factors in a decrease of $117 million, or 6%, related to the FASB's ... Read the full article
Aon and Guidewire model silent cyber risks for U.S dam attack
25th October 2018
Re/insurance broker Aon and Guidewire Software, a platform provider for property and casualty (P&C) re/insurers, have collaborated on a scenario that models insured losses related to a hypothetical cyber attack on a U.S hydroelectric dam. The scenario analysed an attack in which a hacker opens the flood gates of a hydroelectric ... Read the full article
M&A insurance surge driving global deal-making: Aon
24th October 2018
A recent surge in the use of insurance for mergers and acquisition deals has created a greater opportunities and cost savings for stakeholders, while simultaneously changing the way deal professionals distribute and insurers view risk, according to Aon’s global M&A Risk in Review report. The report states that the increased demand ... Read the full article
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