Aon
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US cyber premiums grew approximately 10 percent to $2bn in 2018, down from 30 percent in the two previous years. -
Michael Popkin and Rick Miller are set to join Aon Securities after leaving their roles as the joint managing directors and co-heads of ILS at JLT Capital Markets.
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The US experienced more than 360 tornadoes in May following the nearly 250 that touched down in April, according to Aon.
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Tornado losses would generally have to be in the billions to impact the reinsurance market, but could still count toward aggregate reinsurance covers.
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Selby Bennett given sole responsibility for global reinsurance clients unit with Melvin receiving new Aon leadership role.
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The move follows a decision from Willis Towers Watson last year to shutter its M&A advisory business.
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The two reinsurance brokers are supported by Everest Re and RenaissanceRe.
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The Q1 pricing report provides further evidence that carriers are pushing for rate and attempting to manage exposures as loss-cost trends bite.
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The number of events rose to an eight-year high for the month, the broker says.
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Aon has appointed Jay Demeusy US vice chairman of its reinsurance solutions arm, reporting into George deMenocal.
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A firming rate environment and improved macro trends provided a dual tailwind in the quarter.
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The broker expects a pick-up in alternative capital after growth in that segment slowed last year.
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