Aon
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Total economic and insured losses are “virtually certain” to reach into the billions. -
The Corporation’s CEO will run Aon Reinsurance Solutions.
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The move means Lloyd’s will have a new chairman and a new CEO in the same year.
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But forecasts of slowing growth in recent years have been too pessimistic – and uncertainty remains.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO.
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The firm’s trajectory could, however, make it harder to meet guidance going forward.
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The former CEO will also serve as executive managing director within Aon’s reinsurance solutions business.
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The executive is currently Asia Pacific CEO.
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The executive spent over 15 years at Aon in various M&A-related positions.
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