AON EXTENDS ELECTRONIC REINSURANCE PLACING PLATFORM TO LONDON MARKET

Insurance and reinsurance broker Aon has extended its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) markets from 1 April renewals. The new bind feature enables London market insurers and Lloyd’s syndicates to complete and bind Aon's treaty reinsurance placements without the need for face-to-face meetings. Andy Marcell, chief executive of Aon’s Reinsurance Solutions business, said: “With the global outbreak of Covid-19, electronic and online capabilities play an even more vital role in reinsurance transactions as we adapt the way we operate to support remote working”.