Global reinsurance capital fell 6% to $590 billion for the first quarter of 2020, Aon reported in its June/July Reinsurance Market Outlook report. The report, which also looks at changes in reinsurance demand levels, hot-button reinsurance wording themes and primary …
Insurance broker Aon plc announces the appointment of Andrew Tunnicliffe as UK chairman, Global & Specialty, part of its Commercial Risk Solutions, Health Solutions and Affinity business. He will take up the new role on July 27. Tunnicliffe has over …
Aon will end the salary cuts implemented in May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon will end the salary cuts and repay colleagues for the lower pay, although a 50% …
Insurance broker and professional services firm Aon announced the formation of a coalition of other insurers, companies and organizations in the Chicago area to help advance economic recovery in the wake of the COVID-19 pandemic. The coalition includes other Illinois …
Airlines, airports and insurers across Asia are bracing for the prospect of unusually high damage as the region’s tropical storm season begins, as hundreds of aircraft grounded by the coronavirus pandemic can’t be moved easily. Major airports in storm-vulnerable regions …
Fire-risk scores now used by insurance underwriters can sometimes can make it challenging for homeowners to find coverage. Zesty.ai, a California insurtech start-up, is among a handful of firms working to fine-tune fire-risk scores so that some homeowners have a …
Global insurance broker Aon has promoted Steve Petrevski as senior vice president and general manager of Data & Analytic Services. Petrevski will be responsible for developing and executing Aon’s data and analytic services platform, which brings together data, technology, expertise …
Extensive severe weather events in the United States during April cost insurers billions of dollars, according to the latest edition of Aon’s Global Catastrophe Recap report. There were 14 killer tornadoes in the U.S. in April – the fifth-most in …
Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the COVID-19 crisis. In addition, 70% of its global workforce will see a 20% reduction in their salaries, while approximately 30% …
Insurance and reinsurance broker Aon has received accreditation from Lloyd’s for its reinsurer trading portal, ABConnect Placements. Following the recent deployment of Aon’s binding function, the Lloyd’s Franchise Board provided “conditional recognition” of Aon’s ABConnect Placements platform so valid contracts …
