Aon has agreed to acquire 80% of Spanish insurance broker, GDS, from La Caixa and Banca March, with an option to purchase the remaining shares in the firm at a future date. Meanwhile, Spanish bank, La Caixa, will continue to hold a percentage stake in GDS while partnering Aon in plans for the continued expansion [...]
Aon Risk Solutions has appointed Mark R Parker to the position of director at its global broking center’s international property and casualty specialty in London. Mr Parker takes up the role on 9th December and will support the expansion of the firm’s international P&C portfolio, working with the unit’s leader, Luigi Sturani. He will also [...]
Aon Benfield has updated its UK terrorism catastrophe model, including estimates of the financial loss to life insurers, in a move aimed at helping to satisfy the requirements of Solvency II. The new model simulates attacks on more than 2,000 potential UK targets, including places of worship, financial centres, infrastructure, government and military locations. For [...]
Aon Risk Solutions has released its Airline Insurance Market Indicators report for 2011/12, as the sector enters its renewal season. The broker notes that premium volumes are so far holding steady despite significant increases in forecast risk exposures, but with the underlying cost of insurance continuing to slide. Airline forecasts suggest that fleet values will [...]
Aon has appointed Mark Manwaring as client director responsible for leading its national legal indemnity practice. Reporting to commercial director, Tim Scoble, Mr Manwaring takes up the role with immediate effect, based at the group’s UK headquarters in London. He joins with over 10 years of specialist experience dealing with a wide range of legal [...]
Aon Risk Solutions has announced the appointment of Andrew Tunnicliffe to the post of chief executive officer of Aon Global Risk Consulting. Tunnicliffe is an industry veteran and brings more than three decades of experience to his new position. He is a leading figure in the fields of captives and risk consulting, and will be [...]
Aon Risk Solutions has appointed Christof Bentele as chief broking officer at its London-based crisis management practice. With over 25 years of experience in various roles within the risk and insurance industry, Mr Bentele moves from global product leader, recall and contamination solutions. In his new role, he is responsible for the practice’s global broking [...]
Aon’s kidnap and ransom practice has released its first in-depth piracy report, aimed at ship owners worldwide. The study makes use of piracy data from 2009 to 2011 to clarify changing trends in regional and seasonal Somali piracy activity, and look at the emerging threat of piracy off the west coast of Africa. The analysis [...]
Aon Benfield has released its 2011 Insurance Risk Study, which sets out latest parameters for modelling and benchmarking underwriting risk. The data span 47 countries and key business lines, representing more than 90% of global property-casualty insurance premium. According to this year’s figures, property remains substantially more volatile than other major lines. In Germany and [...]
Aon Hewitt is calling for a change in the Pensions Bill before it comes into force. According to the human resources specialist, many organisations are planning to extend auto-enrolment to everyone, regardless of earnings or age. However, as it stands, the legislation requires the employer to recognise different categories of worker with their own distinct [...]
Aon has announced that it is the sole insurance-industry sponsor of the third edition of the Atlas of Natural Disaster Risk in China. The Atlas pools almost a decade of research on the country’s major natural perils, presented on a national and local basis with maps showing topography, climate, vegetation zones and land use. The [...]
Aon Corporation has reported its results for Q2 2011, during which net income increased by 69% year-on-year to $258m (equating to $0.75 per share) from $153m ($0.54 per share). Net income rose marginally from the immediately preceding quarter when Aon made $246m ($0.71 per share). Total revenue increased by 48% from $1.9bn in the corresponding [...]
Aon Risk Solutions has appointed three new insurer relationship managers to Aon GRIP Solutions in the UK, which provides insurers with analytical insights regarding their underwriting capabilities. All three appointments are from within Aon, across a range of areas within the business. David Cleverly, who has been heading up the North American wholesale team for [...]
Aon Risk Solutions has appointed Nicki Tilney as head broker of construction, power and infrastructure at its global broking centre in Singapore. The centre is one of Aon’s hubs around the world for insurance placement and allows clients access to insurance markets outside their immediate geography. Ms Tilney, who has over 20 years of experience [...]
Lloyd’s underwriters have teamed up with insurance broker Aon and Global Excess Partners, an innovator in new insurance products, to develop a comprehensive bedbug insurance solution for travellers and the hospitality industry. According to Lloyd’s, bedbug infestations are on the rise, causing hotel owners, landlords and businesses major problems. High levels of infestation have been [...]
Aon Benfield is claiming that catastrophic losses in the first quarter of 2011, plus Solvency II, are driving the need for insurers to boost their understanding of non-modelled perils. The reinsurance intermediary suggests that tsunamis generated by the Japanese and Chilean earthquakes and the disruption caused by the Icelandic and Chilean volcanic eruptions are both [...]
Aon Risk Solutions (ARS) has appointed David Boyle as head of its aviation team, Asia Pacific (APAC) region. Based in London, Mr Boyle will report directly to Simon Knechtli, global head of airlines and head of ARS’s aviation team. Joining from Willis, where he was regional director for APAC, Mr Boyle began his career in [...]
Aon Risk Solutions has announced the Hong Kong opening of International Space Brokers (ISB), its space insurance practice. The specialist space insurance broker’s regional director, and senior vice president, Craig McGilvray is to be based in Hong Kong. McGilvray will lead the new Asia-Pacific division, and prior to joining ISB worked in Brisbane, catering to [...]
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has found that over half (60%) of European insurers who attended its Analytics conference believe that 2014 would be a better starting date for Solvency II. The present start date is 1 January 2013, and 31% of those asked preferred no delay and [...]
For the first time in its 10-year history, Aon’s annual Terrorism Threat Map takes into account political violence, strikes and war. The 2011 edition, renamed the Aon Terrorism and Political Violence Map, shows increased risk of political violence in the Middle East and North Africa, reflecting the Arab Spring uprisings, and takes into account civil [...]
