Aon

While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.

Nine-month insured losses still exceeded $100bn due to California wildfires.

Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.

The executive has worked at Aon for almost two decades.

Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.

Nick Fallon is the latest in a string of retro-broker moves in the market.

The volume of property cat aggregates placed grew 50% in 2025.

A trend towards higher-risk ILW bonds helped keep yields in double-digits despite softer rates.

The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.

The broker has noted that double-digit reductions are increasingly available in property.

The bond will provide protection on an industry-loss basis, as reported by PCS.

Cat bond broking growth contributed to 6% organic growth in reinsurance.

The broker has nearly 20 years of experience in the reinsurance and retro markets.

Matthew Towsey has spent 14 years at Aon.

US events accounted for more than 90% of global insured losses.

The sidecars will provide capacity for reinsurers and large insurance carriers.

The awards celebration took place at the Hilton Bankside on 25 June.

The documents figure in a potential criminal case against a CCB employee.

The executive has 15 years of experience in meteorology and cat analytics.

Most of the losses are attributable to a supercell storm in Texas.

The carrier previously raised a Finca Re cat bond in 2022.

Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.

Sources believe the market will grow gradually over years after its initial cluster of dealmaking.

Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.

Insured losses were the second highest on record for the first quarter.

Sykes has spent over 31 years with Aon, with the last 15 of those in Guernsey.

The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.

Rachel Barnes Binnie joins as portfolio manager.

The cat bond market surpassed $50bn by the end of Q1 2025.

The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.

Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.

The executive will remain with the firm as a senior adviser to the CEO until mid-2026.

Eric Paire was head of capital advisory at Aon for nearly seven years.

Shreeve’s role will encompass the Aon Captive & Insurance Managers’ ILS business.

Total economic losses were $368bn, 14% above the 21st century average.

The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.

Total economic and insured losses are “virtually certain” to reach into the billions.

The move means Lloyd’s will have a new chairman and a new CEO in the same year.

The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.

Increased reinsurance capacity was more than sufficient to meet continued growth in global demand.

Magnani has served for more than 14 years in ILS broking roles.

Insured losses for 9M 2024 have hit $102bn, according to a report.

A client presentation from the broker put total insured losses at $25bn-$40bn, leaving the Citizens and the National Flood Insurance Programs clear of reinsurance impacts.

The “exceptionally large and powerful” Category 4 storm made landfall in Florida last month.

Richard Pennay will become CEO of Aon Securities.

Aon estimated losses for the Czech Republic at EUR775mn, Austria EUR555mn, Poland EUR285mn and Slovakia EUR33mn.

Better performance data and clarity around entry are key, report says.

Severe convective storms accounted for 60% of H1 global cat losses.

The expanded team aims to increase capability across global specialty lines and property specialty retrocession.

The US carrier abandoned the project due to high price expectations.

Yen Chu Choo has been appointed Asia Pacific capital advisory head.

Growth was driven by strong returns and new investors entering the market.

Portfolios of clients of varying size in the same region aggregate more risk.

White Rock claims CCB was responsible for the “lion’s share” of fraudulent letters of credit.

The peril can no longer be considered secondary, according to Gallagher Re.

Aon set up the facility in 2020.

The figure is well above the historical average of $39bn for this century.

Hurricane Beryl is expected to strengthen again after hitting the Yucatan Peninsula.

More than $1bn has entered the sidecar segment in 2024.

The broker said the mid-year reinsurance renewals benefitted from “more than ample” capacity.

Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.

He will report to Kelly Superczynski, Aon’s global head of capital advisory.

The index-based coverage will be for the benefit of Lloyd’s Syndicate 1910.

The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.

Juniper Re Bermuda received preliminary approval from the BMA last month.

The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.

He was executive managing director in Aon’s wholesale treaty team.

Sponsors still secured terms that were favourable relative to traditional cover.

The conflict between US and Bermuda legal systems offers no easy route for counterparties to fraud-impacted transactions.

The client lacked options in the conventional insurance market.

Growth driven by 14% expansion in reinsurance solutions division.

The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.

The investment comes in exchange for a $49mn surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the Vesttoo fraud.

The broker’s latest climate report tallied global insured cat losses at $118bn.

Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.

Broker-dealers' year-ahead forecasts have undershot total final issuance in three of the last five years.

While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.

The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.

All 50 US states and the District of Columbia are covered by the bond.

The Nature Coast Re offering is the first in a new series from SafePoint.

Asagao VI is fourth largest private cat bond deal this year.

A strong outlook for sidecar profits in 2023 is rebuilding investor confidence but one to three years of good performance will be needed to sustain it more fully.

Creditors already have authorisation to access Vesttoo’s data as part of their investigation.

Caccamese spent nearly six years at rival broker Guy Carpenter prior to joining Aon.

The motion seeks discovery of information and documents about the structure and operation of White Rock’s cells.

Mallen previously spent over 10 years at Chaucer, most recently as a US casualty reinsurance underwriter.

Nichols joins from Aeolus Capital Management, where he’d served as a portfolio manager after previously spending nearly a decade at Guy Carpenter.

A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.

Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.

The supply-demand dynamics are all pointing in ILS markets’ favour, so long as hurricane season goes quietly.

Outside the cat bond segment, Aon said it was observing rising sidecar interest, putting volumes at $7.1bn from $6.4bn the prior year.

The Aon transformer is seeking information on the origins of alleged fraudulent letters of credit.

The Aon unit noted 37 LOCs “purportedly procured by China Construction Bank (CCB), Banco Santander and Standard Chartered Bank US”.

Loss estimates from Aon, Gallagher Re, Swiss Re and Munich Re all point to a significant component of severe convective storm losses.

The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”.

The broker has also appointed Paul Shedden as head of advanced risk analytics for its Risk Capital business.

The ILS transformer platform claims Vesttoo is in breach of shareholder agreements.

The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.

The scale of the coverage offered by the firm means buyers in the emerging line of business face a challenge to swap out their capacity.

The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question.

Skilton will be chair of the team with Wheeler and Murray heading up the global re specialty unit.

The coverage is designed to reduce the island’s obligation to the US Federal Emergency Management Agency.

At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.

The broker’s latest report finds stability but continued price discipline in most lines and regions.

The broker has published research identifying transformative trends in the insurance industry.

The broker said the risk from wildfire is also set to increase substantially.

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.

The broker has spent around 15 years working for Aon’s reinsurance unit.

The new unit includes hires from Aon and BMS.

Aon expects depleted shareholder equity to be restored over time via higher retained earnings and the ‘pull-to-par’ effect of bonds approaching maturity.

Total economic losses came in well above average, driven by the earthquake in Turkey.

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.

The broker found that the insured-loss figure for 2022 was nearly 60% higher than the annual average over the 21st century.

The broker said cedants will return for extra property cover after a tough 1.1.

The senior broker joined the firm in 2018 after a long career at Willis Re.

The broker has pegged the global reinsurance supply demand imbalance at $20bn-$30bn.

The broker said clients can move fast in a harder market but need time to review quotes.

Announcements and interviews at the UN conference have shed light on the tools emerging to help carriers decarbonise their underwriting portfolios.

Preliminary total economic losses this year through Q3, including an initial view of Hurricane Ian based on publicly available estimates, were $227bn.

Paul Shedden joins from Sompo International, where he was head of portfolio design, pricing and analytics – global insurance.

The ILS broking leader was speaking at the first in-person Munich Re ILS roundtable at the Monte Carlo Rendez-Vous since the pandemic.

The CEO said the (re)insurance industry is not doing enough to meet the climate challenge ahead.

Steve Bowen will work closely with the Gallagher Research Centre, which was launched just yesterday.

The broker said 2022 cat bond issuance was likely to match the record levels of 2021.

Aon’s reinsurance solutions CEO, Andy Marcell, said the loss ratios of treaties managed by the brokerage firm performed “pretty well” in the past 10 years.

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.

The leadership restructure comes on the 25th anniversary of White Rock Group.

The parties will develop climate-conditioned wildfire event catalogs to support cat modelling.

While still too early to assess the damage fully, Aon believes the impact on property, infrastructure and agriculture will be significant.

Total issuance of $4.86bn was transacted in the primary market.

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.

The first six months of the year also saw more billion-dollar loss events than average.

Last year’s inaugural Randolph Re issuance was sized at $50.7mn.

The property reinsurance market may be fast approaching a true ‘hard’ market, the broker said.

It is understood that he will work on large global client accounts and staff mentoring.

Storms from 16-23 June added to a “very active” quarter for the peril.

Investors, fund managers and service providers are adapting in the face of potential large losses from secondary perils.

The intermediary’s reinsurance solutions business has appointed Joanna Parsons as it looks to expand its capital advisory unit.

Global reinsurance capital grew by 3.8% last year, according to Aon’s analysis of 22 reinsurers.

The broker put ILS capital at $96bn by year end, $1bn lower than mid-2021 but ahead of its $94bn year-end 2020 estimate.

The figure made 2022 the sixth consecutive year in which Q1 losses topped $10bn.

Damage from windstorms that swept across the central and eastern United States from 21 to 23 March could cause hundreds of millions of dollars in economic and insured losses, according to the Aon Impact Forecasting weekly cat report.

He will lead strategy and development for the team, which provides consulting and software.

The earthquake on Wednesday night caused power cuts for more than 2.2 million homes.

The broker’s appointment of Jim Fiore follows his decision last year to leave QBE after nearly 30 years at the carrier.

Total issuance during 2021 beat the previous annual peak of £11bn in 2020, according to an Aon note marking the cat bond sector’s 25th anniversary.

The former Swiss Re Capital Markets executive will report to ILS unit CEO Paul Schultz.

Aon’s Impact Forecast has suggested that only a limited portion of the loss will pass to reinsurers.

Insured losses from severe weather events in the US are on course to exceed $20bn, following the second highest October tornado tally on record, according to a report from Aon.

The broker said that weather-related losses had become more severe in the past decade because of climate change.

The Texas Windstorm Insurance Association (Twia) has recommend hiring Willis Re as broker and Aon to provide catastrophe modelling services, following a review of its arrangements which were previously with Guy Carpenter.

The broker is developing solutions to accurately quantify intangibles including IP

The broker forecast ‘continuing growth momentum’ in the ILS market.

GWP rose by 17% to $177bn for Aon’s peer group of reinsurers, while their average combined ratio stood at 94.0% – down from 104.4% for the prior-year period.