Aon Benfield News

Global Insured Losses Hit $30B in 1H 2016, 30% of Economic Losses: Aon Benfield

Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. These losses – economic …

Global Flood Events Rack Up $5B in Economic Costs in June: Aon Report

Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Seasonal “Mei-Yu” …

Aon Benfield Names Foord-Kelcey as Co-Head of Cyber Practice Group

Aon plc has appointed Luke Foord-Kelcey to co-head Aon Benfield’s Global Cyber Practice Group, reinforcing the firm’s commitment to cyber risk management and transfer. Based in London, Foord-Kelcey will be responsible for spearheading cyber – an emerging line of business …

Global Disasters During May to Cost Insurers at Least $7B: Aon Report

Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. An historic wildfire caused catastrophic damage in …

Aon Benfield Chile Taps Soto Quintus as CEO, Molina as Treaty Head

Aon Benfield has appointed Martin Soto Quintus as chief executive officer of Aon Benfield Chile. Reporting to Alejandro Galizia, CEO of Aon Benfield Latin America, Soto Quintus is responsible for the development and implementation of the firm’s growth strategy in …

Aon Benfield Enhances Poland Flood Model

Impact Forecasting, Aon Benfield’s catastrophe model development team, has launched a new version of its catastrophe model to enhance understanding of the financial impact of floods in Poland. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon …

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 …