Aon News

Not All Homes in Wildfire Zones Are Uninsurable. Here’s How Insurers Can Tell.

Fire-risk scores now used by insurance underwriters can sometimes can make it challenging for homeowners to find coverage. Zesty.ai, a California insurtech start-up, is among a handful of firms working to fine-tune fire-risk scores so that some homeowners have a …

Aon Promotes Petrevski to Data, Analytic Services Leader

Global insurance broker Aon has promoted Steve Petrevski as senior vice president and general manager of Data & Analytic Services. Petrevski will be responsible for developing and executing Aon’s data and analytic services platform, which brings together data, technology, expertise …

April’s Killer Tornadoes Cost Insurers Billions in Claims: Aon Report

Extensive severe weather events in the United States during April cost insurers billions of dollars, according to the latest edition of Aon’s Global Catastrophe Recap report. There were 14 killer tornadoes in the U.S. in April – the fifth-most in …

Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties

Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the COVID-19 crisis. In addition, 70% of its global workforce will see a 20% reduction in their salaries, while approximately 30% …

Aon’s Reinsurer Trading Portal, ABConnect, Receives Accreditation from Lloyd’s

Insurance and reinsurance broker Aon has received accreditation from Lloyd’s for its reinsurer trading portal, ABConnect Placements. Following the recent deployment of Aon’s binding function, the Lloyd’s Franchise Board provided “conditional recognition” of Aon’s ABConnect Placements platform so valid contracts …

Willis Towers Watson Postpones Planned Sale of Miller Insurance

Willis Towers Watson is postponing its planned sale of its London wholesale broker subsidiary, Miller Insurance Services. “Given the current COVID-19 outbreak and associated uncertainty, we have paused our current efforts to explore strategic alternatives for Miller. WTW and Miller …

Aon Enhances Reinsurer E-Trading Portal to Support Remote Working During Pandemic

Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) insurers. The new bind feature enables Lloyd’s and the London company markets …

Global M&A Plunges 28% in Q1 as Coronavirus Hits Economies

Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. Deal …

Aon and Willis Towers Watson Say Merger Is All About ‘Getting Better, Not Bigger’

There are several talking points that are evident about the planned merger of broking giants Aon and Willis Towers Watson. First, it’s not about getting bigger; it’s about getting better. And, second, it’s about addressing unmet client needs. But it …

Reuters: Aon Alleges Fraud in $300M Brazilian Deal with Broker Admix

British insurance broker Aon Plc has accused the founder of Brazilian health and benefits insurance broker Admix of defrauding it when it acquired the company four years ago in a 1.35 billion reais ($300 million) deal, according to arbitration and …