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.
Aon threatened with legal action over Vesttoo linked letters of credit
31st July 2023
Aon has disclosed that it may be facing legal action over letters of credit (LOCs) related to the Vesttoo collateral investigation, though has noted that it has "meritorious defences" and intends to "vigorously defend itself" against these claims. The re/insurance broker stated that "certain clients and counterparties have initiated or indicated ... Read the full article
There’s still pressure, but reinsurance market has found equilibrium in property cat: Aon
28th July 2023
Within reinsurance, pressure remains on the capital side, but opportunities are there and as the market has shifted, it's getting to an equilibrium around pricing property catastrophe risks, according to executives at re/insurance broker Aon. Greg Case, Chief Executive Officer (CEO) and Eric Andersen, President of insurance and reinsurance broker Aon, ... Read the full article
Aon’s M&A and Transaction Solutions appoints Trauber to advisory board
28th July 2023
Insurance and reinsurance broker Aon has announced that its M&A and Transaction Solutions unit has further grown its Advisory Board with the appointment of Stephen Trauber. Prior to this, Trauber was Citi’s Vice Chairman and Global co-head of Natural Resources and Clean Energy Transition. He is an active board member, philanthropist, ... Read the full article
Aon’s Reinsurance Solutions delivers 9% organic revenue growth in Q2’23
28th July 2023
Global broker Aon’s Reinsurance Solutions arm achieved organic revenue growth of 9% in the second quarter of 2023, as revenue across the group increased by 5%, year-on-year, to $3.2 billion, reflecting organic revenue growth of 6%. This growth in organic revenue in the reinsurance arm was driven by strong retention and ... Read the full article
Hagendorff promoted to VP and Deputy Head, Area 1 Germany, at Aon
25th July 2023
Bjoern Hagendorff has been promoted to Vice President and Deputy Head Area 1 in Hamburg, Germany, at Aon's Reinsurance Solutions. Hagendorff has been with Aon since 2015, when she joined the company as a Client Manager and Broker. Since then, he has held a number of roles with the most recent ... Read the full article
Wildfire Defense Syndicate 1996 receives Lloyd’s approval
24th July 2023
Lloyd’s has approved the Wildfire Defense Syndicate 1996, a syndicate in a box (SIAB) targeting California-exposed commercial property risks in the excess and surplus (E&S) market. The syndicate, developed by Lloyd’s coverholder Wildfire Defense Systems (WDS) in collaboration with re/insurance broker Aon and Polo Managing Agency Limited (PMA), started underwriting on ... Read the full article
Aon appoints new Head of EMEA International Property, Global Broking Centre
24th July 2023
Anneliesse Oliveros has been appointed as the Head of EMEA International Property, Global Broking Centre, at insurance and reinsurance broker Aon. Her appointment was effective starting in July, and the role is based out of London. Oliveros’ remit in the new role is being responsible for the management of a varied ... Read the full article
Aon reports global insured cat losses of $53bn in H1 2023
21st July 2023
Insurance and reinsurance broker Aon has reported that global insured losses from natural disasters in H1 2023 totalled $53 billion, which is 46% above the 21st-century average. According to Aon's latest catastrophe report, economic losses for the period amount to an estimated $194 billion, and already constitute ... Read the full article
Lloyd’s performance & capital strong, market positioned to meet challenges: Aon
18th July 2023
"Lloyd’s performance and capital are strong, positioning the market to meet the challenges of an ever more complicated global risk environment... A healthy marketplace is critical to enabling innovation and meeting clients’ complex needs," suggests Rupert Moore, UK CEO, Reinsurance Solutions, Aon. Moore's comments stem from a new Aon report on ... Read the full article
Severe convective storms in Europe anticipated to generate millions in losses: Aon
17th July 2023
The recent outbreaks of severe convective storms in Europe are likely to result in hundreds of millions of Euros in aggregated economic and insured losses, according to Aon’s Weekly Cat Report. Multiday storms affected a number of countries in Western and Central Europe on July 6-13. They generated very large hail, ... Read the full article
Facultative reinsurance demand is growing, says Aon
12th July 2023
Demand for facultative reinsurance is growing, however, supply remains static, and market dynamics differ greatly between accounts, lines of business and markets, according to Aon’s mid-year Reinsurance Market Dynamics report. With the resetting of the property catastrophe market at January 1, insurers are turning to facultative reinsurance to build additional catastrophe ... Read the full article
Aon announces simplified Reinsurance Solutions UK leadership structure
12th July 2023
Global insurance and reinsurance broker Aon has outlined the new structure of its Reinsurance Solutions UK leadership team. This reflects the firm’s ongoing aim to place clients at the centre of its growth strategy and drive internal collaboration. The company has named Richard Wheeler and Tom Murray as co-leaders of Global ... Read the full article
US mortgage reinsurance demand sets new record in 2022: Aon
11th July 2023
US mortgage reinsurance demand set a new record in 2022 with the government-sponsored enterprises (GSEs) Fannie Mae & Freddie Mac, as well as the six US mortgage insurers (US MIs) purchasing more than $18 billion of total reinsurance limit. In Aon’s mid-year Reinsurance Market Dynamics report, analysts highlighted that in 2023, ... Read the full article
Florida’s insurance market overcomes challenges and shows signs of growth: Aon
10th July 2023
Florida's insurance market has made a significant turnaround during the 2023 mid-year renewal, providing a much-needed boost to the state's insurers, according to Aon's Reinsurance Market Dynamics report. Despite worries following Hurricane Ian about a possible shortage of capacity for Florida-based insurers, catastrophe reinsurance capacity was accessible during the mid-year renewal, ... Read the full article
Aon completes “historic” parametric insurance program for Puerto Rico
6th July 2023
Aon, a prominent global professional services firm, has successfully completed a "historic" parametric insurance program for the Government of Puerto Rico. This initiative aims to assist the island in reducing its insurance obligation to the U.S. Federal Emergency Management Agency (FEMA), providing diversified insurance protection against hurricane and earthquake perils. Representing the ... Read the full article