January 2007/6

Aon Corp unveiled a significant restructuring of its senior international management last week which saw the veteran London head Dennis Mahoney relocate to Bermuda.

The European windstorm Kyrill may trigger Munich Re’s EUR110mn cat bond, Aiolos, as the reinsurer announced last week that its losses from the storm may be in the region of EUR600mn.

Munich Re said its pre-tax losses from the European Windstorm Kyrill will be around EUR600mn and estimated the overall market loss at EUR5-7bn.