AON EYES REINSURANCE OPPORTUNITIES AS GROWTH ACCELERATES

Aon sees significant opportunities to expand its footprint in the reinsurance broking sector despite the growing competition in the market, senior executives at the broking and consulting giant said. With competitors such as Gallagher Re, Lockton Re and Inver Re aggressively pursuing the sector, Aon executives said the firm was investing in new capabilities and analytics to bring in new business. “A lot of what we are doing is truly creating a new market such as in climate and IP,” said Aon chief executive, Greg Case. “What we are saying is we will increase the size of the pie. With the capability and colleagues that we have in place, we see tremendous opportunity over time,” he added. The comments came as Aon reported accelerating organic growth in its corporate broking and reinsurance divisions in the first quarter of the year. Aon booked 9% organic growth in its Commercial Risk Solutions business, up from 7% in the first quarter of 2021, while Reinsurance Solutions achieved 7% growth in the quarter, compared to 6% a year earlier.