06/08/18
US suffers multi-billion dollar storm losses amid subdued start to tornado season, according to Aon catastrophe report
Continued extensive flooding in Asia and Africa has impacted more than one million people Impact Forecasting , the catastrophe model development team of Aon plc (NYSE:AON), today launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during May 2018. The report reveals that four separate severe weather outbreaks swept across the United States during the month, leading to extensive hail and wind damage. Most of the damage occurred from the Rockies to the Mid-Atlantic, and thunderstorms led to catastrophic flash flooding in Ellicott City, Maryland for the second time in less than two years. Total combined economic losses from just two of the events were minimally estimated at USD2.3 billion, with public and private insurers expected to cover more than two-thirds of the total. The final figure is expected to be even higher. The severe weather occurred amid of one of the quietest starts...
05/15/18
Aon Appoints Eric Andersen and Michael O'Connor as Co-Presidents of the Firm
- Co-Presidents will lead integrated global operating committee designed to bring the best of the firm to its clients
- The firm will retire remaining business unit brands, Aon Risk Solutions and Aon Benfield, and go-to-market as Aon Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions, has announced that Eric Andersen, Chief Executive Officer of Aon Benfield, and Michael O'Connor, Chief Executive Officer of Aon Risk Solutions, have been appointed Co-Presidents of the firm, effective immediately. As co-presidents, O'Connor and Andersen will continue to report to Aon's Chief Executive Officer, Greg Case, whose contract was recently extended by the Board of Directors until April of 2023. Aon also announced it will retire the firm's remaining business unit brands – Aon Risk Solutions and Aon Benfield, which follows the retirement of the Aon Hewitt business unit brand in 2017 – and create an integrated...
05/10/18
Severe April storms result in $2bn hit to US economy, according to Aon catastrophe report
Africa floods damage 10,000+ homes, with over 78 deaths and $350m loss in Kenya alone Impact Forecasting , Aon Benfield's catastrophe model development team, today launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during April 2018. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON). The report reveals that five separate storm systems caused severe thunderstorms across the United States during the month, the strongest of which affected the Plains, Midwest, Southeast, Mid-Atlantic, and the Northeast, with nearly 70 tornado touch-downs and up to baseball-sized hail that damaged residential and commercial property and vehicles. The same system also led to anomalous snowfall in the Upper Midwest and New England, while dry conditions behind the storm caused major wildfires in the Plains, notably in Oklahoma. Total combined economic losses...
05/04/18
Aon Reports First Quarter 2018 Results
First Quarter Key Metrics as Reported under U.S. GAAP(1) Total revenue increased 30% to $3.1 billion, including an increase of $365 million, or 17%, related to FASB's new revenue recognition standard Operating margin increased 1,180 basis points to 25.9%, including 860 basis points related to FASB's new revenue recognition standard EPS increased 150% to $2.35, including $0.90, or 96%, related to FASB's new revenue recognition standard First Quarter Key Metrics as Comparable to Pro Forma Financials and Highlights(1) Total revenue increased 13% to $3.1 billion, including 3% organic revenue growth Operating margin increased to 25.9%, and operating margin, adjusted for certain items, increased 230 basis points to 31.8% EPS increased to $2.35, and EPS, adjusted for certain items, increased 26% to $2.97 For the first three months of 2018, cash flow from operations decreased to $140 million, and adjusted free cash flow increased 16% to $208 million, when excluding certain near-term impacts...
04/13/18
Aon Announces 11% Increase to Annual Cash Dividend
Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions, announced today that its Board of Directors has authorized an 11% increase to its annual cash dividend paid quarterly on Aon's outstanding Class A Ordinary Shares. Consistent with the increase in the dividend, the Board of Directors has declared a quarterly cash dividend of $0.40 per share on outstanding Class A Ordinary Shares, reflecting an 11% increase from $0.36 per share. The dividend is payable May 15, 2018 to shareholders of record on May 1, 2018. About Aon Aon plc (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. Follow Aon on Twitter: https://twitter.com/Aon_plc Sign up for News...
04/10/18
Global political volatility is leading to heightened levels of political violence and political risk
Aon publishes 2018 Risk Maps for Political Risk, Terrorism and Political Violence
- Political Violence: The likelihood of interstate conflict, even involving major powers, is at the highest point since the end of the Cold War. Growing geopolitical competition and weak leadership in international diplomacy have contributed to increased risks of armed conflict over the last year.
- Terrorism: The number of terrorist attacks in Western countries in 2017 (204) doubled - up from 96 in 2016, though casualties remained at similar levels. A number of war zones internationally continue to serve as incubators for international terrorism, although the global threat from Islamic State seems to be waning somewhat.
- Political Risk: Last year saw political risk increase in 11 countries, with climate change and commodity shocks weakening fiscal positions, which are still struggling to recover from the commodity shock, and exacerbating rising levels of political violence and supply...
04/10/18
Aon and HP Join Forces to Combat Cyber Risk
Strategic Collaboration Provides Holistic Solution to Bolster Operational Continuity and Financial Resilience against Cyber Attacks Aon (NYSE: AON) and HP today announced a strategic collaboration to strengthen companies' business continuity and disaster recovery planning with comprehensive IT security and cyber risk management services. The two companies are launching a holistic solution for customers that includes hardware-level security protection, comprehensive risk assessment and remediation, rapid incident response, and options for enhanced cyber insurance coverage. The solution will be available through the HP Device as a Service (DaaS) offering, which provides multi-OS device management support and advanced analytics and proactive management capabilities. The cyber threat landscape is rapidly evolving, with business leaders increasingly concerned about the disruptive impact of cyber risk i . At the same time, the number of devices and operating systems used by enterprises is...
04/06/18
Aon Announces First Quarter 2018 Earnings Release and Conference Call
Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions, plans to announce first quarter 2018 results on Friday, May 4 th , 2018 in a news release to be issued before the market opens. Greg Case, president and CEO, will host a conference call at 7:30 am Central Time on Friday, May 4 th , 2018. The conference call will be broadcast live through Aon's website at www.aon.com . Adobe Flash is required to listen to this webcast. A replay will be available shortly after the live webcast. The earnings release and supplemental slide presentation will be available on Aon's web site at www.aon.com . About Aon Aon plc (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance....
02/08/18
January windstorms expected to cost European insurers more than $2bn, according to Aon catastrophe report
Friederike, Eleanor and Carmen, kill at least 20 people and cause widespread damage Impact Forecasting , Aon Benfield's catastrophe model development team, today launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during January 2018 . Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON). The report reveals that several Atlantic storm systems impacted Western and Central Europe during the month, the most significant of which was Windstorm Friederike, which killed at least 13 people after hurricane-force wind gusts and heavy rainfall affected Germany, the Netherlands, Belgium, France, and the United Kingdom. The German Insurance Association (GDV) reported that Friederike was the costliest windstorm in the country since Windstorm Kyrill in 2007, with preliminary payouts listed at approximately EUR1 billion ( USD1.24 billion ). Additional...
02/07/18
Aon Securities structures record-breaking earthquake catastrophe bond for World Bank
Largest ever sovereign risk transfer protects World Bank against natural hazard exposure in four countries Aon Securities , the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield , has assisted the World Bank in structuring the largest ever catastrophe bond covering earthquake, providing the organization with USD1.36 billion of capital markets protection. The bond, which mitigates balance sheet risk for the World Bank in Chile , Colombia , Mexico and Peru by offering protection against earthquake risk on a parametric basis, is the second largest catastrophe bond on record, and represents the largest sovereign risk transfer in the history of the insurance-linked securities sector. The issuance was made across five tranches of notes – one for each of Chile, Colombia and Peru, and two for Mexico. Under the issuance, Chile will receive USD500 million, Colombia USD400 million, Mexico USD260 million and Peru USD200 million in earthquake risk...
02/02/18
Aon Reports Fourth Quarter and Full Year 2017 Results
Fourth Quarter Key Metrics From Continuing Operations and Highlights Reported revenue increased 10% to $2.9 billion with organic revenue growth of 6% Operating margin decreased to 16.8%, and operating margin, adjusted for certain items, increased to 27.5% EPS decreased to $0.04 , and EPS, adjusted for certain items, increased to $2.35 Repurchased 3.5 million Class A Ordinary Shares for approximately $500 million The Company closed its acquisition of the Townsend Group , a leading global real estate and investment management firm, bringing greater depth of expertise in real estate assets to Aon's distribution scale and increasing Aon's ability to provide alternative private market assets The Company closed its acquisition of Unirobe Meeùs Groep, strengthening Aon's position as a top leading insurance broker and risk advisor in all business-to-business market segments in the Netherlands Full Year Key Metrics From Continuing Operations and Highlights Reported revenue...
01/24/18
Costliest year on record for weather disasters with USD344 billion global economic loss in 2017 - Aon catastrophe report
All natural disasters cost USD353 billion, with insurance industry in position to handle high volume of claims payouts and explore future growth to build resilience in underinsured regions Impact Forecasting , Aon Benfield's catastrophe model development team, today launches its Weather, Climate & Catastrophe Insight: 2017 Annual Report , which evaluates the impact of the natural disaster events that occurred worldwide during 2017 to promote awareness and enhance resilience. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON). The report reveals that there were 330 natural catastrophe events in 2017 that generated economic losses of USD353 billion – of which 97 percent (USD344 billion) was due to weather-related events, including Hurricanes Harvey, Irma and Maria in the US and Caribbean, plus Typhoon Hato in China and Cyclone Debbie in Australia. For historical context, 2017's natural catastrophe losses were 93 percent higher versus the...
01/18/18
Aon Announces Fourth Quarter and Full Year 2017 Earnings Release and Conference Call
Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions, plans to announce fourth quarter and full year 2017 results on Friday, February 2 nd , 2018 in a news release to be issued before the market opens. Greg Case , president and CEO, will host a conference call at 7:30 am Central Time on Friday, February 2 nd , 2018. The conference call will be broadcast live through Aon's website at www.aon.com . Adobe Flash is required to listen to this webcast. A replay will be available shortly after the live webcast. The earnings release and supplemental slide presentation will be available on Aon's web site at www.aon.com . About Aon Aon plc (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and...
01/15/18
Aon Declares Quarterly Dividend
Aon plc (NYSE:AON), the leading global professional services firm providing a broad range of risk, retirement and health solutions, announced today that the Board of Directors has declared a quarterly cash dividend of $0.36 per share on outstanding Class A Ordinary Shares. The dividend is payable February 15, 2018 to shareholders of record on February 1, 2018 . About Aon Aon plc (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. Follow Aon on Twitter: https://twitter.com/Aon_plc
Sign up for News Alerts: http://aon.mediaroom.com/index.php?s=58 Investor Contact: Investor Relations 312-381-3310 investor.relations@aon.com Media Contact: Donna Mirandola
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01/08/18
Aon's Cybersecurity 2018 Predictions: Companies Will Make Major Enterprise-Wide Changes to Address Cyber Risk
Companies to take out more standalone cyber insurance policies; chief risk officer steps boldly into cybersecurity spotlight; greater regulatory pressure globally; increasing importance of multi-factor authentication; full extent of insider risk goes unreported. As cyber attacks increasingly threaten every aspect of business and grow in volume and scale, companies will be forced to take new measures to address cybersecurity risk holistically, integrating it more aggressively into their enterprise risk management, according to Aon's Cyber Solutions industry specialists in the 2018 Cybersecurity Predictions report. The report outlines a number of specific actions that Aon believes companies will take in 2018 to address cyber threats, as well as other cyber trends that it anticipates in the New Year. "In 2017, cyber attackers created havoc through a range of levers, from phishing attacks that influenced political campaigns to ransomware cryptoworms that infiltrated operating systems on a...
01/02/18
Aon completes acquisition of leading alternative investment advisor Townsend Group
Acquisition extends Aon's leadership position in real estate and real asset investments Aon, the leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced it has completed its acquisition of The Townsend Group (Townsend), majority owned by Colony NorthStar, Inc. Townsend is a leading provider of global investment management and advisory services primarily focused on real estate and real assets. "We are excited to welcome the Townsend organization into Aon and further enhance our investment solutions in areas that are of increasing importance to our clients," said Cary Grace, chief executive officer of Global Retirement & Investment Solutions at Aon. "Working together, our combined teams will continue to expand our capabilities and expertise in alternative investments to create sophisticated and transparent offerings that provide our clients with objective advice and solutions." Aon is currently one of the top three...