Aon
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She will retire as CEO of North America at the end of 2024.
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The executive will report to Aon fac head in south Florida Eduardo Hussey.
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The executive succeeds Rick Miller, who passed away last month at age 62.
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Tailwinds from a profitable 2023 sent insurers into strong markets in Q1 2024.
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Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
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Overall economic losses hit $45bn in the first quarter of 2024.
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Avoiding an antitrust fight aids execution, but creates uncomfortable optics around the multiple paid.
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The broker’s opening price on Friday was $272.10 per share, versus Thursday’s closing price of $306.
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Aon’s CEO said the business was formerly “very underweight” in the middle market.
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The broker announced yesterday it had completed its $13bn acquisition of NFP.
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Aon will provide further updates on NFP and deal financials, on its earnings call tomorrow.
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The executive had opened the Aon Property Symposium in January.
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The deal cleared a major antitrust hurdle two months ago.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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The executive will report to Aon North America CEO Jennifer Bell.
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Eric Paire has been at Aon since 2018, having joined from Guy Carpenter.
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The executive will report to Aon Northeast region leader Christine Williams.
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Erich Lowe most recently served as SVP with Aon’s property practice.
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The exit follows the broker moving its Climate Risk Advisory function into its Risk Capital segment this year.
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Insurance Insider US examines public brokers’ 2023 M&A.
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He was executive managing director in Aon’s wholesale treaty team.
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As of Friday morning, the Smokehouse Creek fire was 5% contained, up from 3% yesterday.
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The end of the waiting period effectively clears the path to close in the US.
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The exec was speaking alongside Doug Hammond after Aon agreed to buy NFP.
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The broker has been adding to its capabilities in the region.
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The pace of price decreases has eased since Q2 last year.
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The broker wants to “draw a line under the issue” and trade forward.
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Growth driven by 14% expansion in reinsurance solutions division.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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Jose Antonio Álvarez served as group CEO of Santander from 2015 to 2022
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The parties also signed a release of claims arising from the Vesttoo fraud.
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The transaction would have been one of the largest the market has seen for years.
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The broker’s latest climate report tallied global insured cat losses at $118bn.
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“We're certainly much more optimistic than we've been at any point probably over the last five years,” he told this publication in an exclusive interview.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.