Aon

Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.

The executive also recommitted Aon to its mission around creating net new markets – including growing IP – in the wake of the Vesttoo issues.

The Aon transformer is seeking information on the origins of alleged fraudulent letters of credit.

Carriers continue to adapt their appetite, capacity deployment, coverage language, attachment points and pricing to manage portfolio performance.

Sources said Baron is joining Price Forbes after nearly seven years at Aon, where he was managing director based in South Florida.

The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”.

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The broker has also appointed Paul Shedden as head of advanced risk analytics for its Risk Capital business.

The ILS transformer platform claims Vesttoo is in breach of shareholder agreements.

The question of how to finance the private brokers no longer begins and ends with a PE flip.

Differences in business mix and definitions yield differing trajectories for brokers, but in the absence of a recession, we may see continued margin improvement.

Some 81.5% of policies renewed with the same limit and deductible, marking a return to historic levels after bottoming out in Q3 2020. Among those policies, the average price decrease was 13.8%, while the average price increase was 30.2%.