Aon
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The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January. -
He was executive managing director in Aon’s wholesale treaty team.
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Sponsors still secured terms that were favourable relative to traditional cover.
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The conflict between US and Bermuda legal systems offers no easy route for counterparties to fraud-impacted transactions.
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The client lacked options in the conventional insurance market.
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Growth driven by 14% expansion in reinsurance solutions division.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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The investment comes in exchange for a $49mn surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the Vesttoo fraud.
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The broker’s latest climate report tallied global insured cat losses at $118bn.
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.
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Broker-dealers' year-ahead forecasts have undershot total final issuance in three of the last five years.
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While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.
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