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Following the implosion of the recent merger, we take stock of what happened – and what’s next – for Aon. -
The 20-year record organic growth for the quarter is unlikely to be sustainable.
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The company reported $139mn in Q2 cat losses that it said mostly came from Winter Storm Uri.
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The company reported a combined ratio of 94.4%, a 1.8% improvement from the same period last year.
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The Brown & Brown CEO also called the company’s second quarter results the “best” in its history.
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The retail segment grew organically by almost 18% after shrinking by 2.6% a year ago.
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The company grew P&C net written premiums by 47%, while the non-life combined ratio improved 32 points to 89% during the second quarter.
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With surging capital supply, a hybrid model will continue to be a value creator in the reinsurance space.
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The executive added that her company had built in a possible rise in loss activity into its estimates, as payrolls move closer to pre-pandemic levels.
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The reinsurer has been reducing its exposure to domestic companies since 2019.
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Underwriting income plummeted to $2mn from $18mn last year, hurt by less favorable development and lower earned premiums.
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The company said rates in commercial auto offset modestly negative comp rates, with D&O and aviation easing up but still firm.
