Aon
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The move is the latest among large private equity houses to consolidate programmes and leverage buying power.
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Detailed excerpts from an internal Aon memo on the "opt-in" rate to the salary reduction programme.
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In total, nine out of 10 in-scope staff will participate, an internal memo obtained by this publication shows. -
Insurers say the policy at issue has a $15mn sub-limit for windstorm damage.
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Lewis joined Aon from TMK in September to set up the managing general agency.
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The CEO says the sector needs to innovate to address its waning relevance.
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The extensive negotiations started at 0.99 Aon shares for each Willis share, and ended at 1.08, according to proxy documents.
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On the quarter, the broker posted strong results across most financial metrics but withdrew guidance due to elevated uncertainty.
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The executive says the move will protect staff and support clients amid serious economic turmoil.
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The broker lifts its operating margin by 2 points as reinsurance solutions expands 9 percent on an underlying basis.
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Measures to retrench on cost due to Covid-19 were disclosed as the broker reaffirmed its Willis deal.
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Attritional losses hit a 14-year high due to worsening casualty trends and man-made losses.
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