Aon
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The transaction would have been one of the largest the market has seen for years. -
The broker’s latest climate report tallied global insured cat losses at $118bn.
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The executive will lead for the EMEA region in its strategy and development business segment.
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High staff turnover in the cargo market is continuing this year, following elevated movement in 2023.
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Ron Gardenier, the current chief MGA at Aon, will be appointed CEO of the newly formed entity.
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The LatAm telecoms company buys a sizeable protection triggered by windspeeds.
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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.
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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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