Aon
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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.
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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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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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The 2023 Global Risk Management Survey showed that the UK is the only region to put climate change in its top 10 risks.
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Head of Lloyd’s relationships James Mackay joined Aon in 2019 after a 25-year stint at Argenta.
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Last year, the B2B credit InsurTech raised $15mn in Series A fundraising as it looks to continue building its team and expand globally.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
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The CEO anticipates reinsurers to continue focusing on attachment levels and that appetite for specialty classes will be higher.
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As part of the changes, former Andean CEO Alejandro Gregory will take over as LatAm chief commercial officer.
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Sources voiced some disappointment in the rate reduction but acknowledged the improved loss record of the contract.
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There is an increasing focus in the casualty reinsurance space on social inflation and litigation funding trends.
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Aon’s Global Risk Management Survey also places failure to attract or retain top talent in the fourth spot.
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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.
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The decline marked the sixth consecutive quarter of double-digit pricing declines.
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Current EMEA CEO Eduardo Dávila is to leave the firm to “pursue the next chapter” of his career.
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The 3x3 plan takes the things about the firm over the last decade that have been distinctive and intensifies them.
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The plan is projected to deliver savings of $100mn in 2024, $250mn in 2025 and $350mn in 2026.
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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.
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