Aon

The executive left Ardonagh Specialty earlier this year.

As part of the changes, former Andean CEO Alejandro Gregory will take over as LatAm chief commercial officer.

Sources voiced some disappointment in the rate reduction but acknowledged the improved loss record of the contract.

There is an increasing focus in the casualty reinsurance space on social inflation and litigation funding trends.

Aon’s Global Risk Management Survey also places failure to attract or retain top talent in the fourth spot.

Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.

The decline marked the sixth consecutive quarter of double-digit pricing declines.

Current EMEA CEO Eduardo Dávila is to leave the firm to “pursue the next chapter” of his career.

The 3x3 plan takes the things about the firm over the last decade that have been distinctive and intensifies them.

The plan is projected to deliver savings of $100mn in 2024, $250mn in 2025 and $350mn in 2026.

Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.

The broker’s share price fell by around 4% after the announcement of its Q3 results and extended restructuring program.