Minority-owned Embrace Partners approved as a wholesale broker for AonEmbrace Partners, a minority business enterprise-certified, tech-driven wholesale insurance broker and MGU of specialty commercial insurance and surety, has been approved by Aon to act as a wholesale broker in the US.
Aon in major London reshuffle as Baum steps down and Peiser relocatesAon senior executive James Baum is to leave his role as global head of wholesale and specialty as part of a wider restructure of the broker’s London-based Global Broking Centre.
Aon swoops for former Ardonagh and WTW exec SmajeFormer Ardonagh Specialty executive Philip Smaje has joined Aon Reinsurance Solutions, The Insurer understands.
Aon names Stein NA mid-market segment leader for commercial risk solutionsAon has expanded Robert Stein’s role and given the executive a new title as mid-market segment leader for Aon’s commercial risk solutions business.
Aon lines up Lazard for PE-focused sale of Netherlands retail businessPrivate equity firms JC Flowers, Exponent and BlackFin are through to the latest round of the Lazard-managed sale process for Aon Netherlands’ retail business, The Insurer can reveal.
Aon’s Peiser: Umbrella will be a “difficult story for clients” in 2024Aon’s Joe Peiser said cat-exposed property business remains “very challenged” and that umbrella placements will be “a difficult story for clients” in 2024, and outlined key “white spaces” that he thinks remain critical for the industry to tackle.
Marsh hires DaSilva, Paragon hires Allen from Aon’s PSP unitMarsh has hired New York-based Miguel DaSilva from Aon’s Professional Services Practice, while London-based Paragon Brokers has hired Joshua Allen from the same unit, The Insurer can reveal.
Aon: Extreme heat can no longer be insurance industry “blind spot”Understanding extreme heat is becoming increasingly important for societal resilience but remains a “blind spot” for the insurance industry, broker Aon has warned.
Aon’s Peiser: Lengthy hard market will lead to uptick in RFPs in ’24Aon’s Joe Peiser has predicted that the longevity of hard market conditions will result in an uptick in requests for proposals in 2024, while also commenting that he’s observing more underwriting discipline among carriers than at any point in his career.
Aon: Q3 global insurance market moderated as carriers balanced growth with profitabilityThe insurance market continued to moderate in the third quarter as insurers looked to balance growth with profitability, according to Aon’s Q3 2023 Global Insurance Market Insights report, which discusses market dynamics, product trends, and regional trends.
Berkshire Hathaway reduces Markel and Aon holdings in Q3Berkshire Hathaway continued to scale back its holdings in publicly traded (re)insurance industry players in Q3 2023, with the Warren Buffett-led conglomerate cutting its stake in Markel by two-thirds and marginally reducing its holding in Aon according to a new regulatory filing.
Aon hires former QBE NA CEO Jones and promotes BeveridgeAon has hired former QBE North America CEO Todd Jones as an EVP for Risk Capital, and also promoted its global strategies leader for commercial risk Cynthia Beveridge to chief broking officer globally for commercial risk, The Insurer can reveal.
Aon hires LSM’s FI manager AdamsonLiberty Specialty Markets’ financial institutions (FI) underwriting manager Samuel Adamson is set to join Aon’s specialty casualty reinsurance team, The Insurer understands.
Aon’s Andersen warns against offloading major risks to public sectorThe industry must be very careful about offloading the most significant risks to the public sector as it risks businesses never coming back to the private market, according to Aon president Eric Andersen.
Aon expands Henderson-led climate risk advisory across risk capital functionAon has expanded its climate risk advisory function across the firm’s risk capital segment, which includes both Commercial Risk Solutions and Reinsurance Solutions.
Arch forms intangible assets division with former Aon IP liability teamArch Insurance International has launched an intangible assets division following an agreement with Aon to acquire certain assets of the latter’s intellectual property liability MGA business.
US reinsurance: the regional viewPatrick Abbe, regional and mutual strategic growth leader, Reinsurance Solutions at Aon, reflects on a challenging, yet interesting, year for US regional insurers.
A shift in the marketAon’s Tracy Hatlestad outlines the main topics of discussion for property reinsurance ahead of the APCIA Annual Meeting.
Record SCS losses the big nat cat story in 2023 for US insurersSevere convective storms have been the main driver of insured natural catastrophe losses this year, with the total hit from the peril setting a new record and suggesting the industry should be placing more weight on secondary events.
Economic impact from Storm Ciarán to total “hundreds of millions” of eurosEconomic losses from Storm Ciarán are expected to total “hundreds of millions” of euros, according to Aon.