Aon Benfield News

January Windstorms to Cost Europe’s Insurers More Than $2B: Aon

European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Of the Atlantic storm systems that hit …

Aon Securities Structures Largest-Ever Earthquake Catastrophe Bond for World Bank

Aon Securities, the investment banking division of reinsurance intermediary and capital adviser Aon Benfield, has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquake, which provides the organization with US$1.36 billion of capital markets’ protection. The bond …

Siccardi Appointed Chief Operating Officer of Aon Benfield UK

Leonora Siccardi has been appointed chief operating officer of Aon Benfield UK, reporting to Nick Frankland, UK CEO of Aon Benfield, and Maggie Westdale, CFO of Aon Benfield. Siccardi will oversee the strategy, leadership, development and execution of policy and …

Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon

Insured losses for last year’s 330 natural catastrophes reached US$134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. The overall economic, or …

Aon Benfield’s Christian Named Chair of ClimateWise, Raising Climate Risk Resilience

Dominic Christian, executive chairman of Aon Benfield International, has been appointed chair of ClimateWise, an organization that aims to help the insurance industry respond to the risks and opportunities of the climate-risk protection gap – the growing divide between total …

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …

Vietnam Suffers Rare $1 Billion Natural Catastrophe Loss: Aon Benfield Report

Typhoon Damrey made landfall in Vietnam during November as a Category 2 strength storm, bringing estimated economic damages of VND22.1 trillion (US$1.0 billion) – a rare billion-dollar event for the country, according to Impact Forecasting, Aon Benfield’s catastrophe model development …

California Wildfires May Lead to $8B in Insured Losses: Aon Benfield

California’s historic wildfires may lead to as much as $8 billion in insured losses. That’s a record for insurers, according to the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact Forecasting. The surge in October wildfires killed at least …

Aon Benfield Names Siccardi as EMEA & UK Head of Client Services

Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has appointed Leonora Siccardi as EMEA & UK Head of Client Services. Based in London and reporting to Maggie Westdale, CFO of Aon Benfield, Richard Posgate, co-CEO of EMEA …

Q3 2017 Likely to Be One of Costliest for Natural Disasters: Aon Report

The third quarter of 2017 is likely to break a new record as one of the costliest quarters for natural catastrophes, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. “The month of September was exceptionally busy and marked …