Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance and reinsurance market isn’t behaving as it …
Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according …
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …
Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital levels stood at US$605 billion at Dec. 31, …
A series of winter storms and severe weather in the United States during March brought economic damages of US$3 billion, with public and private insurers covering roughly two-thirds of the cost, according to a report published by Impact Forecasting, Aon …
Aon Benfield announced a new hire and expanded roles for its reinsurance team in Bermuda. Matthias Meyenhofer will join the firm on Sept. 1, in accordance with his existing contractual requirements, as chief executive officer of Aon Benfield Bermuda, subject …
Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, announces two new high profile appointments to lead its Capital Advisory and Terrorism Specialty divisions: Eric Paire and Emma Karhan, respectively. Reporting to Nick Frankland, UK CEO of …
Aon plc announced that Dominic Christian has been appointed as global chairman of Aon Benfield. At the same time, Julie Page has been promoted to chief executive officer of Aon UK Ltd., subject to regulatory approval. Most recently, Christian was …
European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Of the Atlantic storm systems that hit …
Aon Securities, the investment banking division of reinsurance intermediary and capital adviser Aon Benfield, has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquake, which provides the organization with US$1.36 billion of capital markets’ protection. The bond …
