Aon

Aon launches unit to support distressed clients

Aon has launched a new US-focussed unit dedicated to supporting distressed companies as they consider bankruptcy or a wider restructuring, The Insurer can reveal.

Insured losses from late-March US severe weather in hundreds of millions

Impact Forecasting has reported total insured losses from a severe weather outbreak that swept across the central and eastern US between 27 and 30 of March will “reach well into the hundreds of millions”, with the economic losses likely to become March’s second $1bn event.

CSU predicts 4 major Atlantic hurricanes in ‘above-normal’ 2020 season

Colorado State University (CSU) has predicted above-normal tropical cyclone activity during the 2020 Atlantic hurricane season, which will include 12 hurricanes, including four major, and 18 named storms, in the latest report from Aon’s Impact Forecasting arm.

So, why doesn’t Aon just keep Miller?

Despite the global recession and the ice chill that has frozen the deal-financing markets, few would bet against Aon Group CEO Greg Case delivering on his bold, career-defining WTW swoop signed last month.

Plaintiff in long-running WTW merger dispute now demands Aon deal information

The plaintiff in ongoing litigation over the 2016 merger of Willis and Towers Watson has demanded information relating to Aon’s proposed acquisition of the world’s third largest broker, The Insurer can reveal.

Aon completes parent redomicile to Ireland

Aon has completed the move of the jurisdiction of incorporation for the firm’s parent company from London to Ireland.

US buyers look at greater self insurance as Covid-19 hits cash flow

US insurance buyers are reacting to the Covid-19 crisis by looking at taking higher retentions and increased coinsurance as well as seeking premium clawbacks in response to the crippling impact the nationwide shutdown is having on businesses and their budgets.

Aon-WTW: The chosen two

There is plenty to read into the appointment of Eric Andersen and Julie Gebauer to lead the mammoth task of integrating the largest ever insurance brokerage merger.

Aon-WTW appoint Andersen and Gebauer to drive integration

Aon president Eric Andersen and WTW global head of human capital and benefits Julie Gebauer will co-lead the complicated integration of the two broking and consulting heavyweights that once completed will be the largest ever insurance intermediary M&A deal, The Insurer can reveal.

Marcell: reinsurance industry is passing the Covid-19 test

The reinsurance market is fully engaged and has demonstrated a high degree of connectivity to ensure upcoming renewals remain on track amid the challenges of the coronavirus crisis, according to Aon Reinsurance Solutions CEO Andy Marcell.

Aon-Willis deal now worth only $20.6bn amid equity market turmoil

The aggregate value of Aon stock offered to Willis Towers Watson shareholders under the agreed takeover deal announced only nine days ago has plunged 31 percent from $29.9bn to $20.6bn.

AIG, Scor, Argo all members of the 50% club in Q1 equities bloodbath

The market caps of AIG, Argo and Scor had all fallen by more than 50 percent in the year-to-date before a rally today amidst the Covid-19 driven turmoil in global equities and fears of an impending deep recession.

Aon-Willis deal “gives less choices”: Hannover Re CEO

Hannover Re CEO Jean-Jacques Henchoz said the proposed giant combination of Aon and Willis will lead to less choices but also has the potential to grow demand for the (re)insurance product.

Aon-Willis winners and losers

As we approach the end of an extraordinary week which began with news of the $80bn Aon-WTW combination, we take a look at the likely winners and losers from the largest broker M&A in history.

Aon pegs Ciara-Sabine losses at $1.1bn; Feb US thunderstorms to cost insurers $800mm

Broking giant Aon has estimated insured losses from Winter Storm Ciara, also known as Sabine, will cost insurers “well above” Eur1bn ($1.1bn), while it pegged insured payouts for severe thunderstorms across the US in February at $800mn.

Too big to fail?

Yesterday morning brought home a series of ugly flashbacks from the financial crisis of 2008-09.

Moody’s hands WTW positive outlook on Aon merger

Moody’s has upgraded the rating outlook of Willis Towers Watson to positive from stable following the company’s announcement that it has agreed to combine with insurance broker Aon in an all-stock transaction that values WTW at about $30bn.

Aon’s WTW deal has “potential” to enhance business profile, says S&P

Aon’s proposed acquisition of Willis Towers Watson “has the potential” to enhance the former’s business profile owing to the additional strength it will garner in the middle-market space, S&P Global Ratings believes.

Aon-WTW Day 1 reflections: A Case of timing

Willis Towers Watson shares closed down 7.5 percent and Aon shares plunged 16.7 percent as the biggest broker M&A deal in history was swept up in the worst market rout since 2008.