Aon News

Green Cat Bonds Aren’t a Thing – Yet

Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of people in the …

Aon to Buy Real Estate Investment Mgmt. Firm, Townsend Group, for $475M

Insurance broker Aon Plc said on Friday [Sept. 1] it would buy real estate investment management firm The Townsend Group from Colony NorthStar Inc for $475 million, helping expand its property investment management portfolio. Aon has been tweaking its portfolio …

Asia Floods Bring Economic Damages of More Than $10B in July: Aon Report

The vast majority of global natural disasters during July were the result of severe flooding across the Asian region, bringing more than $10 billion in economic damages, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development …

Aon Agrees to Buy Dutch Broker Unirobe Meeùs Groep from Aegon for $347.9M

Aon Groep Nederland announced it has entered into an agreement to acquire Utrecht-based broker Unirobe Meeùs Groep (UMG) from Aegon for €295 million ($347.9 million). The transaction is subject to works council advice and approval by the Dutch regulators, and …

June Catastrophes Cost Global Economy $5 Billion; U.S. Storms Dominate: Aon

Floods and storms cost the global economy more than $5 billion in June, with most of those losses generated in the United States, according to an Aon catastrophe report. In the U.S., large hail, tornadoes, straight-line winds and isolated flash …

Aon Appoints Marcell to New Position of President of Aon Benfield

Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has appointed Andy Marcell to the new position of president of Aon Benfield. Marcell will begin the role with immediate effect and will report to Eric Andersen, chief executive …

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

Many Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack

Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little take-up of cyber insurance, insurers say. A massive ransomware worm …

Aon Names Hogg as Leader of Cyber Solutions, CEO of Stroz Friedberg

Aon plc announced that Jason Hogg has joined the firm as leader of Aon Cyber Solutions, responsible for the growth strategy of the firm’s solutions that help clients address and manage cyber risk. He will also serve as chief executive …

‘Poaching’ Suits Like Aon v. Alliant: Nothing Personal, Just Routine Business

An ongoing legal battle between two large national insurance brokerage firms over employee poaching is a byproduct of a hazard faced in the financial services industries where relationships and knowledge of business practices are premium assets, experts say. A jury …