Aon
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The high-profile ILS lead has departed Aon Securities to spend more time with his family. -
Aon’s head of capital advisory noted that future investors could be “plugged in” to the Constellation structure set up for the initial JP Morgan deal.
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The firm’s head of business intelligence Mike Van Slooten said strong capital levels contrasted with cat loss activity running above budgets.
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New chiefs announced for Asia-Pac, Emea, Canada and the Caribbean.
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UK CEO Nick Frankland moves to a chairman role of a new consultancy unit.
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Joe Sergio Jackson will be responsible for key property accounts regionally and globally.
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The broker estimated spreads fell by 15%-20% year on year to return to 2018 levels.
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The Q2 results update came at the end of a week in which an agreement to acquire Willis Towers Watson collapsed.
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The collapse of the Aon-Willis deal will have no noticeable impact on the ILS broking business, as the market waits to see what the fate of the Willis Re team will be.
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The companies disclosed that Aon will pay Willis the $1bn break fee.
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The broker said ILS capital had reached $96bn at the end of Q1.
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It took year to date private cat bond volumes up to $580mn, according to Trading Risk data.
