Aon
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US cyber premiums grew approximately 10 percent to $2bn in 2018, down from 30 percent in the two previous years. -
Michael Popkin and Rick Miller are set to join Aon Securities after leaving their roles as the joint managing directors and co-heads of ILS at JLT Capital Markets.
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The MGA brought in company market paper to support a plan to expand premium by 25 percent to around $500mn over 12 months.
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The US experienced more than 360 tornadoes in May following the nearly 250 that touched down in April, according to Aon.
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The executive replaces Karl Hennessy, who left to join McGill & Partners.
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Pricing in the Netherlands, the UK and Germany is facing the most upward pressure, the broker finds.
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Selby Bennett given sole responsibility for global reinsurance clients unit with Melvin receiving new Aon leadership role.
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The move follows a decision from Willis Towers Watson last year to shutter its M&A advisory business.
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The two reinsurance brokers are supported by Everest Re and RenaissanceRe.
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The Q1 pricing report provides further evidence that carriers are pushing for rate and attempting to manage exposures as loss-cost trends bite.
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The number of events rose to an eight-year high for the month, the broker says.
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Andrew Matson and Miles Shephard will run the revamped unit as CEO and executive chairman, respectively.
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