Insurance and reinsurance broking giant Aon has acknowledged that it is facing legal action over letters of credit (LOCs) related to the Vesttoo collateral investigation, but believes it has “meritorious defenses” in this case.
Tag: Aon
Severe Convective Storms Drive Above-Average 1H Catastrophe Losses
The first 6 months of 2023 saw above-average natural catastrophe losses, with many of those losses the result of severe convective storms, according to multiple analyses of first-half catastrophe activity.
Aon and Mergermarket Uncover Increase in Alternative Financing and ESG Scrutiny in Uncertain M&A Market
96 percent of respondents expect Environmental, Social and Governance (ESG) scrutiny in deals to increase over the next three years, including 48 percent who expect it to increase significantly.
Aon Collaboration with AbsoluteClimo Advances Modeling for Climate-Based Perils
Aon plc, announced the firm’s multi-year collaboration with Asia Pacific climate data and analytics provider AbsoluteClimo, helping to advance climate modelling and inform better decisions as organizations navigate emerging volatility from climate-based perils.
Aon Estimates Q1 2023 Global Insured Catastrophe Losses at $15B
Te Impact Forecasting division of insurance and reinsurance broker Aon has issued a preliminary estimate for first-quarter 2023 insured global catastrophe losses, putting the total at around $15 billion.
U.S. Convective Storm Outbreak to Drive Hundreds of Millions in Losses: Aon
The series of severe convective storms that broke out in the U.S. over the last week are estimated to cause total economic and insured losses in the hundreds of millions of dollars, suggests Aon.
Aon Launches New Earthquake Risk Cat Model in Canada
Aon plc, a leading global professional services firm, today announced the launch of a new probabilistic catastrophe model to quantify loss potential for earthquake risk in Canada.
Aon: Global Reinsurance Capital Down by $115B to End of September 2022
New new data from Aon shows that global reinsurance capital fell by 17%, or $115 billion, to $560 billion in the first nine months of 2022, as some of the world’s largest re/insurance groups reported significant declines during the period.
Aon Collaborates with the University of California to Enhance Wildfire Modeling
Aon plc, a leading global professional services firm, today announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California, Los Angeles to implement the latest climate change science and research into Aon’s U.S. wildfire catastrophe model. The collaboration includes research from some of the nation’s top… Continue reading Aon Collaborates with the University of California to Enhance Wildfire Modeling
Property Natural Catastrophe Reinsurance Capacity Contracted During Mid-Year Renewals
Aon, in its recently released Reinsurance Market Dynamics report which examines macroeconomic and industry trends observed during the June 1 and July 1 reinsurance renewals, says reinsurance buyers faced a “near-perfect storm,” with reinsurance capacity constraints exacerbated by insurers’ rising demand for reinsurance protection. Reinsurer capital fell to $645 billion on March 31, 2022, from… Continue reading Property Natural Catastrophe Reinsurance Capacity Contracted During Mid-Year Renewals