Aon
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Rate decreases are often in double digits, but high loss trends and systemic risk persist. -
CEO Greg Case said data centre demand could generate over $10bn in new premium volume in 2026.
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The broker grew earnings per share by 12.1% during the quarter.
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The broker will join Ron Borys’ financial lines team.
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Ben Hanback joins from Aon, where he spent almost a decade.
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Part five in our series looks at how AI can empower brokers to add value as well as speed.
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Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The London-based pair will report to commercial risk UK CEO Rob Kemp.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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The recruits will join from Nephila, Aon and Malaysian Re.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The executive has worked at Aon for almost two decades.
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Cyberattack/data breach remains in the top slot.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The toll of risk losses sustained by the PVT market this year is mounting.
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The broker said insurers were facing increasing pressure to improve financial performance in claims.
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This publication revealed in February the incident was expected to lead to a major claim.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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Nick Fallon is the latest in a string of retro-broker moves in the market.
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The platform aims to “bend the loss curve”.
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Cat bonds have outperformed private ILS strategies in the YTD, according to ILS Advisers.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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Scale is increasingly becoming a differentiator for reinsurance carriers, the broker noted.
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Paul Campbell details how the most profitable insurers act during a soft versus hard market.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The California wildfires showed reinsurers can absorb major cats and remain profitable.
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What’s next for the reinsurance market as Monte Carlo approaches?
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Aon acquired NFP from Madison Dearborn in April last year in a $13.4bn deal.
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The broker is in hiring mode in specialty after numerous brokers departed for Willis Re.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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The reinsurance veteran joined Aon nearly 20 years ago from Cooper Gay.
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Paul Jeroen van de Grampel drove Aon's M&A and litigation solutions proposition.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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However, group organic growth among public brokers has slowed to pre-pandemic levels.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Andrew Laing succeeds Rupert Moore, who will become reinsurance CEO for Asia Pacific.
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The broker has noted that double-digit reductions are increasingly available in property.
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In part II of our series, we look at where AI is being integrated into claims departments.
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The facility was previously for commercial risk clients.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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The broker’s EPS beat consensus at $3.49 for the quarter.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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The former Lloyd’s CEO is also eligible for a target $5mn annual equity award.
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A look into how the insurance industry is using AI and where practical gains are arising.
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Plus, the latest people moves and all the top news of the week.
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The broker said the appointments are designed to drive growth.
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John Neal was due to start at Aon as global reinsurance CEO in September.
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The former Lloyd’s CEO will not make his planned move to Aon.
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US events accounted for more than 90% of global insured losses.
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Rates continue to drop as capacity is ample, the broker said.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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He was most recently Marsh’s US manufacturing and automotive practice head.
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The executive brings more than 25 years of insurance experience.
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The broker has expanded the number of global industry verticals to seven from four.
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The broker noted a “significant variation” in renewal outcomes.
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The platform will capture and standardise data from all submissions, the broker said.
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Coverage has broadened while limits have increased, the broker said.
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The executive was formerly the head of cyber solutions, North America.
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The documents figure in a potential criminal case against a CCB employee.
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Case added that recently acquired broker NFP has “exceeded” expectations.
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Muñoz was also Aon Re chairman for the Latin American region.
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The executive will remain CEO of reinsurance until 1 September.
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Most of the losses are attributable to a supercell storm in Texas.
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The executive will also continue as MD overseeing Caribbean fac.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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The executive will be global reinsurance CEO and climate solutions chair.
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The exec will lead key initiatives including Aon United, and work closely with NFP.
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Hussey will take over the role left vacant when Luis Sonville moved to AJ Gallagher late last year.
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He was appointed executive chairman for international in 2021.
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New broker vehicles are setting up amid accelerated softening in D&F.
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The executive was previously a top US casualty broker.
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Ann Field, Matt Moore and David Griffiths have also had promotions.
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The broker's share price dipped 11% in morning trading after its Q1 earnings missed expectations.
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The commercial risk and reinsurance units delivered mid-single-digit growth.
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Marsh alleges Aon also went after its clients as well as its employees.
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Insured losses were the second highest on record for the first quarter.
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The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
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The 1 April renewals are the key date for Japanese treaty.
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Total reinsurer capital grew by $45bn in 2024 to $715bn.
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Sources said extending coverage to Gen AI may be difficult and unnecessary.
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Plus, the latest people moves and all the top news of the week.
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The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
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Eric Paire was head of capital advisory at Aon for nearly seven years.
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The steep reduction in quantum stands to benefit specialty excess of loss reinsurers.
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Sources said the claim is likely to be a multi-hundred-million-dollar event.
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Plus, the latest people moves and all the top news of the week.
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Single-digit organic growth, robust casualty pricing and tapering margins were all key trends.
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The event now includes a casualty portion and has officially been re-branded as the Property and Casualty Symposium.
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The average change for primary policies with the same limit and deductible was a 3.5% decrease.
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Aon saw lower rates in reinsurance as capacity outstripped demand.
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President Andersen said he was optimistic about the 2025 reinsurance market.
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The broker introduced 2025 guidance for mid-single-digit or greater organic growth.
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Secondary perils accounted for 65% of global insured losses in 2024.
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The Moss Landing facility has previously faced major claims.
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The associate director is exiting the broker’s product recall team after 10 years.
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Aon is in hiring mode following the departure of several senior brokers to Howden Re.
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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
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Total economic and insured losses are “virtually certain” to reach into the billions.
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The Corporation’s CEO will run Aon Reinsurance Solutions.
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The move means Lloyd’s will have a new chairman and a new CEO in the same year.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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The executive said the market would soften during 2025 but would not drop through the floor.
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The facility was launched in partnership with the EBRD.
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Barry Stiff is expected to join Aon in May.
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Jon Thacker has been at WTW for 20 years, specialising in construction.
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The former CEO will also serve as executive managing director within Aon’s reinsurance solutions business.
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The commercial chief said Aon will avoid disrupting clients’ insurer relationships.
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The executive is currently Asia Pacific CEO.
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Cyber is more in the one- or two-year loss development camp, the Lloyd’s CUO said.
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The Indonesian flag carrier moves during the busy Q4 airline renewals.
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The long-serving Aon broker specialises in the placement of cruise portfolios and Norwegian accounts.
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The executive has worked for LSM and Brit.
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The global broker has beaten off competition from AJ Gallagher, and a number of other strategics.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
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Ball will succeed Jeff Poliseno, who is set to retire.
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The broker said Europeans are pushing hard for rate or attachment point relief.
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The broker expanded margins and grew earnings per share by 17% during the quarter.
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The broker is discussing the potential for "smart frequency solutions" with reinsurers.
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Continental cedants are looking for support for third and fourth events.
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Underwriters are broadly pricing on the basis of a $1.5bn Baltimore claim, but there is uncertainty.
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An estimated $6bn to $9bn will be ceded to the FHCF, and $6bn to $10bn to traditional reinsurance markets.
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She most recently led the broker’s UK insurance vertical.
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The “exceptionally large and powerful” Category 4 storm made landfall in Florida last month.
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Richard Pennay will become CEO of Aon Securities.
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Third-party litigation funding has been linked to rising casualty insurance prices.
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Aon estimated losses for the Czech Republic at EUR775mn, Austria EUR555mn, Poland EUR285mn and Slovakia EUR33mn.
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Padilla has also held senior regional roles at Cooper Gay and Swiss Re.
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Better performance data and clarity around entry are key, report says.
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The move follows the recent appointment of Aon’s Brad Melvin as US president and CEO.
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The brokers called on the industry to “catalyse” the country’ growth by removing blanket exclusions.
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Italy is seeking to address an insurance protection gap that is much higher than in other European countries.
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The expanded team aims to increase capability across global specialty lines and property specialty retrocession.
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The change comes as negotiations start to kick off for 2025 renewals.
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The US carrier abandoned the project due to high price expectations.
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Yen Chu Choo has been appointed Asia Pacific capital advisory head.
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Rob Kemp leads the EMEA central broking team as strategic broking director.
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Portfolios of clients of varying size in the same region aggregate more risk.
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Clients are taking advantage of market conditions to restore coverage limits.
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Sources said LSM head of third party in Miami Humberto Pozo will serve as interim head of distribution.
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The executive will end her career at Aon Bermuda effective 1 October.
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This is a new role for the broker.
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He joins the firm following the departure of Edward Morgan and Guy Tyler, who have launched an MGA.
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Current head of marine hull Helen Costin is set to retire from the business.
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He will focus on the London and US markets, including the placement of consortia and binders.
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Q2 was the ninth consecutive quarter of year-over-year price decreases.
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President Eric Andersen said non-malicious cyber risk was “front of mind” for clients.
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Organic growth was in line with WTW and Marsh McLennan, which both posted 6% underlying expansion.
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The move comes amid elevated personnel movement in the energy sector.
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Moore will oversee Aon Bermuda’s commercial risk solutions broking operations, leading a team of 85 executives.
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The airlines, healthcare and financial services industries were some of the sectors affected by the outage.
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The executive has worked for Aon, Steadfast and Argenta.
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The figure is well above the historical average of $39bn for this century.
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Trade, technology, weather and workforce were identified as the main mega trends.
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The new hire spent two years as head of member services at Lloyd’s.
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Farah Nelson will report to recently appointed group CFO Charlie Rozes.
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A round-up of all the news you need today, including an updated forecast for Atlantic hurricane season.
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Hurricane Beryl is expected to strengthen again after hitting the Yucatan Peninsula.
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The executive was head of wholesale and specialty at Aon’s Global Broking Centre.
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Paul Davies has been with the broker for more than 36 years.
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Reinsurers were more willing to support lower layers ahead of 1 July, the broker said.
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The facility will provide coverage globally for blue and green hydrogen projects.
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The Mexican state oil company delivered the upstream market its largest claim in 2023.
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The broker said US insurers purchased around $5bn of additional cat limit.
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Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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Mark Parker has been leading the GBC on an interim basis and will retire in the coming weeks.
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SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
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Interest is growing in third-party capital, captives and private debt.
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Dan Walsh has led Aon Client Treaty for the past six years.
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The $357mn programme consists of four transactions, including a $50mn facility brokered by Aon.
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The broker has more than 30 years’ experience in the London motor market.
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The broker noted a shift towards alternative risk solutions in the MENA region.
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An EF-4 tornado devastated Greenfield Iowa, adding to the expected multi-billion-dollar toll.
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The most common breach type was law compliance, followed by financial statements.
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He will report to Cynthia Beveridge, global chief broking officer for commercial risk.
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He will report to Kelly Superczynski, Aon’s global head of capital advisory.
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Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
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Aon’s CEO said the business was formerly “very underweight” in the middle market.
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The broker announced yesterday it had completed its $13bn acquisition of NFP.
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James Platt has previously held group COO and chief digital officer roles at Aon.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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Eric Paire has been at Aon since 2018, having joined from Guy Carpenter.
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The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.
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Sources cited numerous issues with how collateral protection insurance was designed.
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Natural-cat-exposed business saw significant price increases.
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The pair hail from Miller and Aon respectively.
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The exit follows the broker moving its Climate Risk Advisory function into its Risk Capital segment this year.
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He was executive managing director in Aon’s wholesale treaty team.
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Mike Smith will step down from his role on 31 March.
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The end of the waiting period effectively clears the path to close in the US.
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The executive will lead strategic initiatives and hire talent.
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The broker has been adding to its capabilities in the region.
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The pace of price decreases has eased since Q2 last year.
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The broker wants to “draw a line under the issue” and trade forward.
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Growth driven by 14% expansion in reinsurance solutions division.
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Convective storms cost more than ever, but activity was not exceptional.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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The investment comes in exchange for a $49mn surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the Vesttoo fraud.
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Jose Antonio Álvarez served as group CEO of Santander from 2015 to 2022
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The transaction would have been one of the largest the market has seen for years.
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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.
