Aon

Increased interest rates and unfavorable market conditions led to reduction in capital issuance activity in the P&C insurance industry in 2022.

In each case, the broker asked the judge to dismiss with prejudice, barring the parties from bringing the disputes to another US court.

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.