WTW

It has been an extraordinary three and a half months for Aon.

The broker is about to tell staff how the long-awaited $125mn of incentives will be allocated.

Willis’ Q1 commercial lines pricing survey showed a 6% rate increase, flat from Q4 and higher than all other 2019 quarters as large accounts recorded double-digit increases.

The performance of the entire enterprise is given greater overall weighting across all executive officers when calculating pay-outs.

Johnny Wadhams has moved to the broker from Chubb, where he was chief underwriting officer for aviation.

The extensive negotiations started at 0.99 Aon shares for each Willis share, and ended at 1.08, according to proxy documents.

Broker report models optimistic, moderate, severe and extreme outcomes from pandemic.

The brokers' Q1 comments reinforce the tough trade-offs facing insurance intermediaries following the solid Q1 results but dim 2020 outlook.

The CEO said protecting staff compensation was a priority but would not rule out pay cuts.

Quarterly earnings beat the consensus estimate as profit from the reinsurance unit rises 10 percent.

The downstream market is expected to be less impacted although there is some BI exposure.

The broker says claims are manageable, but the dual hit to balance sheets sets the scene for a capital squeeze.