Aon Benfield News

PERILS Joins Singapore’s NatCatDAX, Aiming to Close Asia Nat Cat Protection Gap

PERILS, the Zurich-based independent organization providing industry-wide catastrophe insurance data, announced it has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, which has been set up to help increase data availability for natural catastrophe insurance in Asia. …

Aon Launches Next Generation of ReMetrica for Risk & Capital Modeling

Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, has launched ReMetrica Version 7.0 – its next generation platform for risk and capital modeling. Following Solvency II and equivalent regulation, insurers are demanding more value from their …

U.S. Storms in March Will Cost Insurers $2 Billion: Aon Benfield’s Cat Report

Insurers face a $2.0 billion bill following seven severe storm events across multiple states in March, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Overall economic losses sustained to property, infrastructure and agriculture across the U.S. from these storms and …

Alternative Capital Up 12%, Traditional Reinsurance Drops 4% in 2015: Aon Report

Alternative capital continues to make its presence felt in the reinsurance market, increasing by 12 percent during 2015 to $72 billion, while traditional capital decreased by 4 percent to $493 billion, according to a report published by Aon Benfield. Capital …

Aon Benfield Launches Global Reinsurer Trading Platform with Real-Time Data

Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, will launch on April 11 a global reinsurer trading platform called ABConnect Placements. Available for use with the July 1 renewals, ABConnect Placements will provide a more integrated, streamlined …

Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports

Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new reports. “Stripping out these two factors, …

Aon Launches Charter Flight Cancellation Coverage

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, launched an insurance product for the charter aircraft industry addressing the financial losses associated with the cancellation of flights. Structured in partnership with Mountfitchet Risk Solutions, the Aircraft …

El Niño Wreaks Havoc in February with Fiji Cyclone, Floods & Drought: Aon Report

The Southern Hemisphere registered its strongest tropical cyclone on record during February with Tropical Cyclone Winston, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. With maximum sustained winds of 295 kph (185 mph), Tropical Cyclone Winston made landfall …

January Weather Cost Global Economy $4 Billion-Plus: Impact Forecasting

January winter weather cost more than $4.0 billion of economic impact in the United States and Asia, according to Impact Forecasting, Aon Benfield’s catastrophe model development team, which evaluates the impact of natural disasters on a monthly basis. During the …

RMS Examines Massive Blizzard That Swept Through East Coast

The massive blizzard that swept through the East Coast over the weekend may result in hundreds of millions of dollars in insured losses. The blizzard, unofficially named “Winter Storm Jonas” by the Weather Channel, brought a combination of freezing rain, …