Aon
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Broker consolidation, angst about loss trends in long-tail lines and the confidence of the E&S market were key themes in Colorado Springs. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The business has engaged with the AssuredPartners process, and has also met with a range of other private brokers including Galway and NFP.
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Nichols joins from Aeolus Capital Management, where he’d served as a portfolio manager after previously spending nearly a decade at Guy Carpenter.
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A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.
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In the initial court documents, Aon alleged its rival broker and former head of PFI “conspired unlawfully” to recruit key members of the team.
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Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.
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The executive also recommitted Aon to its mission around creating net new markets – including growing IP – in the wake of the Vesttoo issues.
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The Aon transformer is seeking information on the origins of alleged fraudulent letters of credit.
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Carriers continue to adapt their appetite, capacity deployment, coverage language, attachment points and pricing to manage portfolio performance.
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Sources said Baron is joining Price Forbes after nearly seven years at Aon, where he was managing director based in South Florida.
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The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”.
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