Aon
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In its ILS annual report, the broker noted that demand for capacity now exceeded supply of capital. -
The executive brings more than 15 years of industry experience, having worked for Neon and Validus Reinsurance.
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The leadership restructure comes on the 25th anniversary of White Rock Group.
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The parties will develop climate-conditioned wildfire event catalogs to support cat modelling.
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While still too early to assess the damage fully, Aon believes the impact on property, infrastructure and agriculture will be significant.
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Total issuance of $4.86bn was transacted in the primary market.
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Initial loss estimates from convective storms and flash flooding place the economic impact in the hundreds of millions, although Aon warned losses may rise further.
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The first six months of the year also saw more billion-dollar loss events than average.
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Last year’s inaugural Randolph Re issuance was sized at $50.7mn.
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The property reinsurance market may be fast approaching a true ‘hard’ market, the broker said.
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It is understood that he will work on large global client accounts and staff mentoring.
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Storms from 16-23 June added to a “very active” quarter for the peril.
