Aon

Although 2022 was on balance, a good year, macro-economic issues such as a slowing economy, falling employment, and loss cost reversion could create an overhang for 2023.

The broker has pegged the global reinsurance supply demand imbalance at $20bn-$30bn.

The broker said clients can move fast in a harder market but need time to review quotes.

The transaction will add Latin American hurricane and earthquake modelling capabilities to Aon’s product suite.

In Q3, 46% of primary policies renewing with the same limit and deductible received a price decrease, while 16% received a price increase, according to Aon. 

The brokers asked the judge in the case for a 30-day extension to finalize settlement terms in Aon’s suit against WTW.

CEO Greg Case said dislocation in the reinsurance market created “tremendous opportunities” for the firm.

Inside P&C’s news team runs you through the key highlights of the week.

The organic growth figure came in below that of major rivals Marsh McLennan, WTW and Gallagher.

As the super-cycle slows and the economic landscape becomes more uncertain, brokers will face pressure, though a cooling labor market may aid margins.

Only one-third of survey participants said they felt prepared for a possible recession.

Preliminary total economic losses this year through Q3, including an initial view of Hurricane Ian based on publicly available estimates, were $227bn.