Aon
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The broker expects collateralised reinsurance to shrink as cat bond demand grows. -
Aon’s former head of international catastrophe management will take up the position next September.
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The company has upgraded its ImpactWorkbench tool to support Open Exposure Data.
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Firms will not cover their cost of capital this year, though capital positions remain robust.
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The CEOs of Aon Reinsurance Solutions, Willis Re and TigerRisk predict limited rate gains, but up to $10bn of incoming capital.
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The appointment follows a number of senior departures from Aon’s reinsurance ranks.
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Record heat, dry conditions and strong winds have helped wildfires spread, Aon said.
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ILS outperformed major financial benchmarks in terms of returns, Aon said.
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Around $5bn may be locked as a result of the pandemic, Aon Securities CEO Paul Schultz estimated.
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Uncertainty remains over energy sector and Covid-19 impact on loss adjusting and rebuilding.
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Both companies secure more than 95% shareholder support for the transaction.
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The companies claim “overwhelming” investor support at meetings today.
