Aon
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Erich Lowe most recently served as SVP with Aon’s property practice.
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The exit follows the broker moving its Climate Risk Advisory function into its Risk Capital segment this year.
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Insurance Insider US examines public brokers’ 2023 M&A.
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He was executive managing director in Aon’s wholesale treaty team.
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As of Friday morning, the Smokehouse Creek fire was 5% contained, up from 3% yesterday.
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The end of the waiting period effectively clears the path to close in the US.
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The exec was speaking alongside Doug Hammond after Aon agreed to buy NFP.
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The broker has been adding to its capabilities in the region.
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The pace of price decreases has eased since Q2 last year.
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The broker wants to “draw a line under the issue” and trade forward.
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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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Jose Antonio Álvarez served as group CEO of Santander from 2015 to 2022
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The parties also signed a release of claims arising from the Vesttoo fraud.
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The transaction would have been one of the largest the market has seen for years.
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The broker’s latest climate report tallied global insured cat losses at $118bn.
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“We're certainly much more optimistic than we've been at any point probably over the last five years,” he told this publication in an exclusive interview.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
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Separately, sources said Swiss Re Miami-based head of auto overseeing the motor portfolio for the LatAm region Carlos Ricci has also left the reinsurer.
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NFP will need to be brought close enough to realize the benefits, but not so close its talent feels smothered.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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Sources suggest that Aon has been proactive in weighing acquisitions since Q4, with a US mid-market platform the obvious gap.
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The deal is expected to close in mid-2024 and will be funded by $7bn of cash and $6.4bn of Aon stock.
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Nancy Woode and Erinn Pearson most recently worked at McGill and Partners and will be based in Aon’s Atlanta office.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
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The CEO anticipates reinsurers to continue focusing on attachment levels and that appetite for specialty classes will be higher.
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The appointment follows Aon's recent hiring of Jeff Alpaugh, formerly Marsh McLennan’s US chief country officer, as president for North America.
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As part of the changes, former Andean CEO Alejandro Gregory will take over as LatAm chief commercial officer.
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In tandem, the firm elevated Cynthia Beveridge as global chief broking officer for commercial risk.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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The five-person underwriting team will be led by Ian Lewis, who has been named head of intangible assets.
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Aon’s Global Risk Management Survey also places failure to attract or retain top talent in the fourth spot.
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Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.
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Inside P&C runs you through the highlights and exclusive news broken by our team this week.
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The decline marked the sixth consecutive quarter of double-digit pricing declines.
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Current EMEA CEO Eduardo Dávila is to leave the firm to “pursue the next chapter” of his career.
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