Aon
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Most of the losses are attributable to a supercell storm in Texas. -
The carrier previously raised a Finca Re cat bond in 2022.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
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Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.
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Insured losses were the second highest on record for the first quarter.
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Sykes has spent over 31 years with Aon, with the last 15 of those in Guernsey.
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The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
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Rachel Barnes Binnie joins as portfolio manager.
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The cat bond market surpassed $50bn by the end of Q1 2025.
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The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
