Aon

CFO Christa Davies will also take responsibility for Aon Business Services as Simon transitions to the industry.

Becky Allison will work to help clients optimise value through more resilient enterprise structures.

While still too early to assess the damage fully, Aon believes the impact on property, infrastructure and agriculture will be significant.

The broker said inflation should positively impact its ability to navigate another recession.

The broker reported organic expansion slightly below rivals Marsh McLennan and AJ Gallagher.

Initial loss estimates from convective storms and flash flooding place the economic impact in the hundreds of millions, although Aon warned losses may rise further.

The first six months of the year also saw more billion-dollar loss events than average.

Before joining Aon, Rob Sage took a step back from the market after spending more than 20 years at AIG.

Leonique van Houwelingen will also join the EMEA executive team.

Reinsurer capital fell 8% in Q1 to $645bn on the back of mark-to-market losses, as nat-cat capacity contracted materially for the first time since the 2004-2005 hurricane season.

It is understood that he will work on large global client accounts and staff mentoring.

Storms from 16-23 June added to a “very active” quarter for the peril.