Aon

He will lead strategy and development for the team, which provides consulting and software.

The earthquake on Wednesday night caused power cuts for more than 2.2 million homes.

The broker’s appointment of Jim Fiore follows his decision last year to leave QBE after nearly 30 years at the carrier.

Total issuance during 2021 beat the previous annual peak of £11bn in 2020, according to an Aon note marking the cat bond sector’s 25th anniversary.

The former Swiss Re Capital Markets executive will report to ILS unit CEO Paul Schultz.

Aon’s Impact Forecast has suggested that only a limited portion of the loss will pass to reinsurers.

Insured losses from severe weather events in the US are on course to exceed $20bn, following the second highest October tornado tally on record, according to a report from Aon.

The broker said that weather-related losses had become more severe in the past decade because of climate change.

The Texas Windstorm Insurance Association (Twia) has recommend hiring Willis Re as broker and Aon to provide catastrophe modelling services, following a review of its arrangements which were previously with Guy Carpenter.

The broker is developing solutions to accurately quantify intangibles including IP

The broker forecast ‘continuing growth momentum’ in the ILS market.

GWP rose by 17% to $177bn for Aon’s peer group of reinsurers, while their average combined ratio stood at 94.0% – down from 104.4% for the prior-year period.