Aon

Aon hires Axa XL’s London property reinsurance head Turner

Aon has recruited Axa XL’s London international property treaty head Catherine Turner to lead its UK property reinsurance team.

Aon shares trade down as earnings call points to revenue pressures outlook

Aon-WTW on track to close with no divestitures: Davies

Aon management have reiterated their confidence that the Willis Towers Watson deal will close without the need for divestitures, including in reinsurance.

Aon continues reinsurance expansion with 9% organic growth in Q2

Aon delivered another strong quarter of organic growth in its Reinsurance Solutions business but saw an organic decline at group level due to a slowdown in its Health Solutions segment.

Aon-Willis deal stays on course for H1 2021 completion: Haley

Willis Towers Watson’s combination with Aon remains on course to complete in the first half of 2021, Willis CEO John Haley told the broker’s second quarter earnings call.

H1 property cat bond issuance 20% higher than all of 2019: Aon

Aon expects the busy ILS pipeline to continue after a total of $2.8bn property cat bond limit was placed in the second quarter of this year, bringing issuance year to date to $6.5bn – 20 percent higher than the issuance in the whole of 2019.

Covid’s “profound” impact may have “radically” shifted business environment: Aon

Covid-19’s economic and political implications will be profound, and firms should consider where they are operating around the world and how the pandemic may have radically changed those business environments, according to Aon.

Lee joins up with Bissett and Foreman at expansive Lockton Re

Recently departed Aon retro specialist Jeremy Lee is teaming up with his former colleagues Bob Bissett and Matt Foreman at expansive Lockton Re.

Rising tide buoys brokers too

While there are many challenges to be navigated for the P&C sector in the Covid-19 fallout, surging pricing is proving to be a fillip that is lifting brokers as well as carriers.

Truist offers positive organic growth read-across for broking sector

Allied to a more bullish outlook from Arthur J Gallagher at its recent investor meeting and Aon’s move to end its salary cuts, Truist Insurance Holdings’ disclosure on Q2 organic growth adds to incrementally positive news from brokers about the impact of Covid-19 on their business.

Aon names Tunnicliffe UK chairman for global & specialty

Aon has named broking veteran Andrew Tunnicliffe as UK chairman of global & specialty, part of its commercial risk solutions, health solutions and affinity business.

Reinsurance capital falls 6% in Q1 as Covid-19 and trapped capital take toll: Aon

Total reinsurance capital was down 6 percent – equivalent to $35bn – in the first quarter with both traditional and alternative capital dipping in the first three months of the year, according to the latest reinsurance market outlook report by Aon.

H1 cat activity below 10-yr trends as hurricane season starts early: Aon

Preliminary natural cat losses for the first half of 2020 are below the 10-year average and median, while historical data does not indicate an early start to the Atlantic hurricane season directly correlates to higher industry losses for the season, according to Aon.

June/July renewal trends included increased ILW buying: Aon

Aon has identified June and July renewals trends such as inclusion of communicable disease language and increased industry loss warranty (ILW) demand in property and employers liability emerging as a potential loss stream in casualty.

June NA severe weather events cost insurers more than $2.5bn

Insured catastrophe losses from severe weather in June in the US could exceed $1.7bn while the Calgary hailstorm was one of Canada’s costliest severe convective storm events on record with more than $900mn of insured losses expected, according to analysis of the latest monthly figures from Aon.

DOJ requests additional information on Aon-Willis merger

The antitrust division of the US Department of Justice (DOJ) has issued a so-called “second request” to Aon and Willis Towers Watson (WTW) over their merger, with the parties conceding in a proxy filing “it could take a significant period of time to achieve substantial compliance”.

Hope is not a strategy … so Case and Aon took a different path

A week ago today, Aon announced it was ending its controversial salary reduction scheme (and repaying the deferred sums, plus an additional five percent). Shortly afterwards, we asked CEO Greg Case whether he regretted the decision.

AJ Gallagher a likely buyer of Willis Re if sold: Wells Fargo

AJ Gallagher (AJG) would be “strongly positioned” to buy Willis Re if it is necessary to divest the reinsurance broker as part of the Aon-Willis transaction, according to Wells Fargo analysts.

Aon shares close up 2% after salary cuts rollback

There was a positive response yesterday from investors to news that Aon is ending temporary salary cuts for most of its workforce as the company’s shares closed up just over 2 percent, ahead of a moderate uptick in US-listed P&C stocks.

McGriff takes transportation quartet led by Thompson from Aon

US retail broker McGriff has expanded its presence in the large transportation accounts arena by hiring a quartet of executives led by Josh Thompson from its larger rival Aon.