Is the Reinsurance Cycle Dead or Just Dormant? Executives Discuss New Realities

Article 0 Comments Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance and reinsurance market isn’t behaving as it once did, when widespread rate increases followed […]

Global 1H Insured Natural Disaster Losses 40% Lower than 10-Year Average: Aon

Article 0 Comments Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according to Impact Forecasting, the catastrophe model development […]

U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’

Article 0 Comments The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, experts agree. “Flood models are hugely important […]

Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield

Article 0 Comments Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital levels stood at US$605 billion at Dec. 31, 2017, an increase of 2 percent from […]

U.S. March Storms Cost Economy $3B; Argentina, Uruguay Drought $4B: Aon Report

Article 0 Comments A series of winter storms and severe weather in the United States during March brought economic damages of US$3 billion, with public and private insurers covering roughly two-thirds of the cost, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. These winter […]

Aon Benfield Bermuda Hires Carpenter’s Meyenhofer as CEO; Fox & Davies Promoted

Article 0 Comments Aon Benfield announced a new hire and expanded roles for its reinsurance team in Bermuda. Matthias Meyenhofer will join the firm on Sept. 1, in accordance with his existing contractual requirements, as chief executive officer of Aon Benfield Bermuda, subject to Bermuda Immigration approval. Meyenhofer joins from […]

Aon Benfield Taps Paire & Karhan from Carpenter for Capital Advisory, Terrorism Specialty Units

Article 0 Comments Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, announces two new high profile appointments to lead its Capital Advisory and Terrorism Specialty divisions: Eric Paire and Emma Karhan, respectively. Reporting to Nick Frankland, UK CEO of Aon Benfield, Eric Paire will lead the […]

Christian Named Aon Benfield’s Global Chairman; Page Promoted to CEO of Aon UK

Article 0 Comments Aon plc announced that Dominic Christian has been appointed as global chairman of Aon Benfield. At the same time, Julie Page has been promoted to chief executive officer of Aon UK Ltd., subject to regulatory approval. Most recently, Christian was chief executive officer of Aon UK Ltd., […]