Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has launched its new weather reinsurance product that offers insurers protection against adverse weather losses in the UK. The new coverage, named WExcess, provides index-based coverage. It was …
The Insurance Industry Charitable Foundation (IICF) Northeast division made its largest-ever distribution of charitable grants at its sixth annual benefit dinner on Wednesday, Dec. 12. The total amount of awarded grants is $960,000. David Brinkman, chair of the IICF Northeast …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced the launch of new Algeria and Morocco earthquake model to achieve more reliable estimates of the earthquake losses to insured properties in the two countries. “The models …
Aon Benfield, Aon’s global reinsurance intermediary and capital advisor, has launched a new flood model for Switzerland and Lichtenstein to quantify financial losses caused by riverine and lake flooding. “Flooding in Switzerland over the last two decades has caused …
Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most costly occurred during a six-day …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced the launch of version 6 of ReMetrica – its dynamic financial analysis tool. The bulletin said it would “reduce model size by up to 95 percent, when …
In the past 12 years, only eight reinsurers have been declared insolvent despite paying claims of more than $150 billion from events including the World Trade Center attacks, hurricanes Rita, Wilma and Katrina, the Great Tohoku earthquake, and the Thailand …
Aon Benfield’s latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during August, notes that Hurricane Isaac was “the first land falling hurricane along the United States’ Gulf Coast region since 2008.” …
Catastrophe bond issuance for the last 12 months – June 2011 to June 2012 – rose to $6.43 billion – an increase of more than $2 billion over the same period in 2011, according to a report issued by Aon …
The latest edition of the Aon Benfield Aggregate (ABA) report, which analyzes the financial position of the world’s leading reinsurers for the first half of 2012, concludes that “global reinsurer capital totaled a record $480 billion at June 30, 2012, …
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