Aon
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Brokers’ valuation multiples have also been heavily eroded.
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Estimated losses in Q2 related to the closed legal action were trimmed by the broker to $100mn from $300mn.
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Total revenue increases 8 percent to an above-forecast $2.56bn at the Greg Case-led broker, while restructuring charges total $195mn. -
Stefania Davi-Greer replaces Kevin Northcott, who is becoming New Zealand country manager.
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The 1 July renewal is the first since Marsh won the account from Aon in January.
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Aon Benfield estimates economic damage from Typhoon Maria to date at about $430mn.
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David Vernon's departure follows a decision to rebrand the broker's primary and reinsurance operations under the Aon moniker.
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Despite the high cost to human life, property losses remain relatively low.
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The month was one of the most active for catastrophe events to date in 2018.
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Market conditions act as the primary curb on fees and commissions.
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A reduction in claim severity has improved cyber loss ratios in the US, Aon said.
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Gains reflect shrinking loss ratios as premiums surge 37%, statutory filings show.
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