Aon
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Mayer will manage a global centre of excellence for parametric products and report to Paul Schultz, CEO of Aon Securities. -
After more than a decade at ILS platforms, Brooks has returned to a broking role.
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The broker has spent around 15 years working for Aon’s reinsurance unit.
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Aon expects depleted shareholder equity to be restored over time via higher retained earnings and the ‘pull-to-par’ effect of bonds approaching maturity.
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Total economic losses came in well above average, driven by the earthquake in Turkey.
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Cat bond pricing has fallen by about 12% since year-end but margins are still strong enough that the market could be set for meaningful growth, the broker forecast.
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The broker found that the insured-loss figure for 2022 was nearly 60% higher than the annual average over the 21st century.
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The broker said cedants will return for extra property cover after a tough 1.1.
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The senior broker joined the firm in 2018 after a long career at Willis Re.
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The broker has pegged the global reinsurance supply demand imbalance at $20bn-$30bn.
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The broker said clients can move fast in a harder market but need time to review quotes.
