Aon
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report. -
The former WTW and Ardonagh executive joined Aon two months ago.
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The broker has seen several changes to its senior UK leadership in recent months.
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While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
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Separately, sources said Swiss Re Miami-based head of auto overseeing the motor portfolio for the LatAm region Carlos Ricci has also left the reinsurer.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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The deal is expected to close in mid-2024 and will be funded by $7bn of cash and $6.4bn of Aon stock.
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In one deal, JC Flowers-backed broker Oneglobal and Insuterch Floodbase announced a partnership to develop parametric flood insurance across Asia.
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Woolley joined Aon in 2019 as an associate director and has previously worked as head of broker distribution for First Title Insurance.
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All existing carriers on the panel renewed in 2024, with QBE remaining leader.
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Yesterday, this publication reported that James Mackay was set to depart from his previous role at Aon Reinsurance Solutions.
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