AdviserVoiceAon Benfield Archives - AdviserVoice https://www.adviservoice.com.au/source/aon-benfield/ Financial planner information & financial planner education/CPD - AdviserVoice Thu, 11 Jun 2026 21:30:14 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Aon Benfield Scholarship applications now open for 2015 https://www.adviservoice.com.au/2015/02/aon-benfield-scholarship-applications-now-open-2015/ https://www.adviservoice.com.au/2015/02/aon-benfield-scholarship-applications-now-open-2015/#respond Tue, 10 Feb 2015 20:50:50 +0000 https://adviservoice.com.au/?p=35368 Prue Willsford

Prue Willsford

This scholarship offers the opportunity to travel to London and develop advanced skills and knowledge of international reinsurance markets.

Provided by Aon Benfield and the Australian and New Zealand Insitute of Insurance and Finance (ANZIIF), the scholarship recognises an outstanding insurance professional in the Australian and New Zealand insurance industry.

The winner will travel to London and attend the 50th annual Aon Benfield Global Clients Reinsurance Seminar from 22 June to 2 July 2015. This Seminar provides valuable information about the principles and practices of arranging reinsurance on a global scale.

To apply for the scholarship, applicants are required to write a 2,500 word essay on how social media and web based technology could change the insurance landscape.

Robert De Souza, President APAC/CEO Australia and New Zealand Aon Benfield, and Chair of the Judging Panel believes the scholarship is a great opportunity for young professionals.

“This scholarship allows insurance and reinsurance professionals to explore and discuss highly relevant issues to our industry, with the opportunity to travel and learn about reinsurance globally.

I highly encourage those eligible to apply”, he said. Prue Willsford, CEO of ANZIIF and scholarship judge said that she is looking forward to seeing the applications based on this topic.

“We anticipate that this thought provoking topic will inspire excellent debate in an important emerging area of the industry”, she said.

The scholarship is open to Australian and New Zealand permanent residents and citzens with at least two years’ experience working in insurance or reinsurance. All full entries are also awarded 6 CIP points for the 2015 calendar year.

Applications close at 5:00pm (AEST) on Tuesday 7 April 2015. For more information and a copy of the application form please visit the ANZIIF website.

]]> Prue Willsford

Prue Willsford

This scholarship offers the opportunity to travel to London and develop advanced skills and knowledge of international reinsurance markets.

Provided by Aon Benfield and the Australian and New Zealand Insitute of Insurance and Finance (ANZIIF), the scholarship recognises an outstanding insurance professional in the Australian and New Zealand insurance industry.

The winner will travel to London and attend the 50th annual Aon Benfield Global Clients Reinsurance Seminar from 22 June to 2 July 2015. This Seminar provides valuable information about the principles and practices of arranging reinsurance on a global scale.

To apply for the scholarship, applicants are required to write a 2,500 word essay on how social media and web based technology could change the insurance landscape.

Robert De Souza, President APAC/CEO Australia and New Zealand Aon Benfield, and Chair of the Judging Panel believes the scholarship is a great opportunity for young professionals.

“This scholarship allows insurance and reinsurance professionals to explore and discuss highly relevant issues to our industry, with the opportunity to travel and learn about reinsurance globally.

I highly encourage those eligible to apply”, he said. Prue Willsford, CEO of ANZIIF and scholarship judge said that she is looking forward to seeing the applications based on this topic.

“We anticipate that this thought provoking topic will inspire excellent debate in an important emerging area of the industry”, she said.

The scholarship is open to Australian and New Zealand permanent residents and citzens with at least two years’ experience working in insurance or reinsurance. All full entries are also awarded 6 CIP points for the 2015 calendar year.

Applications close at 5:00pm (AEST) on Tuesday 7 April 2015. For more information and a copy of the application form please visit the ANZIIF website.

The post Aon Benfield Scholarship applications now open for 2015 appeared first on AdviserVoice.

]]> https://www.adviservoice.com.au/2015/02/aon-benfield-scholarship-applications-now-open-2015/feed/ 0 Reinsurance capital reaches record high https://www.adviservoice.com.au/2015/01/reinsurance-capital-reaches-record-high/ https://www.adviservoice.com.au/2015/01/reinsurance-capital-reaches-record-high/#respond Thu, 15 Jan 2015 20:40:08 +0000 https://adviservoice.com.au/?p=34885 A record breaking year for growth rates in reinsurance and alternative capital sees reinsurance back to pre-GFC levels

The global reinsurance market saw continued growth throughout 2014 as a result of a burgeoning capital base and greater access to alternative markets. According to the Aon Benfield Reinsurance Market Outlook, reinsurer capital grew to USD575 billion, including USD62 billion of deployed alternative capacity. Both of these surpassing previous years’ growth rates to reach record highs.

The report, which examines the trends seen in the global reinsurance industry during 2014, cited a 6 per cent (USD35 billion) growth in global reinsurance capital since year end 2013. While non-traditional capital increased by approximately 25 per cent. Healthy retained earnings, below average catastrophe losses and unrealised investment gains were cited among the contributing factors.

Other key findings from the report:

  • Supply growth continues to outpace reinsurance demand: reinsurer capital grew to USD575 billion including USD62 billion of deployed alternative capacity – both records. The growth rates in reinsurance capital and alternative capital deployed were 6 and 25 percent, respectively.
  • Alternative capital substantially deployed to property catastrophe risks: non-traditional capacity increased by more than USD12 billion in 2014, an increase of almost 25 per cent to USD61.9 billion over 2013. Alternative capital is now 40 to 50 per cent of global catastrophe reinsurance capital.
  • Catastrophe bond issuance: the end of the 2014 calendar year marked a new record for annual property catastrophe bond issuance with a total of USD8.0 billion of limit placed. The groundbreaking period successfully continued the ascension of the catastrophe bond market since the financial crisis to surmount its prior annual peak of USD7.9 billion established in 2007. Although a record for property catastrophe bond issuance, the year fell just short of the record for total issuance (when including life and health transactions). Total issuance for 2014 reached USD8.2 billion[1].
  • Slow demand growth: despite an increase in insurer capital overall demand for reinsurance remained relatively stable year over year in major markets as a result of the continued downward trend in pricing and new capacity providing alternatives to traditional occurrence structures.
  • Global catastrophe losses well below average: insured global catastrophe losses in 2014 were at their lowest levels since 2009. Catastrophe-related losses in 2014 were tentatively listed at USD3 billion, which is down nearly 38 per cent from the 10-year average of USD63 billion. The losses are down 20 per cent from those sustained in 2013 (USD49 billion) and down 49 per cent from 2012 (USD77 billion).
  • Thunderstorms becoming costlier for worldwide insurers: for the second consecutive year, the severe thunderstorm peril was the costliest for the global insurance industry. With the exception of severe weather (convective storm) and winter weather, the rest of the natural disaster perils were either at or below their recent 10-year averages.

——-

[1] Aon Benfield Securities’ 2014 issuance figure excludes almost USD500 million in new issuance through private ILS structures

]]> A record breaking year for growth rates in reinsurance and alternative capital sees reinsurance back to pre-GFC levels

The global reinsurance market saw continued growth throughout 2014 as a result of a burgeoning capital base and greater access to alternative markets. According to the Aon Benfield Reinsurance Market Outlook, reinsurer capital grew to USD575 billion, including USD62 billion of deployed alternative capacity. Both of these surpassing previous years’ growth rates to reach record highs.

The report, which examines the trends seen in the global reinsurance industry during 2014, cited a 6 per cent (USD35 billion) growth in global reinsurance capital since year end 2013. While non-traditional capital increased by approximately 25 per cent. Healthy retained earnings, below average catastrophe losses and unrealised investment gains were cited among the contributing factors.

Other key findings from the report:

  • Supply growth continues to outpace reinsurance demand: reinsurer capital grew to USD575 billion including USD62 billion of deployed alternative capacity – both records. The growth rates in reinsurance capital and alternative capital deployed were 6 and 25 percent, respectively.
  • Alternative capital substantially deployed to property catastrophe risks: non-traditional capacity increased by more than USD12 billion in 2014, an increase of almost 25 per cent to USD61.9 billion over 2013. Alternative capital is now 40 to 50 per cent of global catastrophe reinsurance capital.
  • Catastrophe bond issuance: the end of the 2014 calendar year marked a new record for annual property catastrophe bond issuance with a total of USD8.0 billion of limit placed. The groundbreaking period successfully continued the ascension of the catastrophe bond market since the financial crisis to surmount its prior annual peak of USD7.9 billion established in 2007. Although a record for property catastrophe bond issuance, the year fell just short of the record for total issuance (when including life and health transactions). Total issuance for 2014 reached USD8.2 billion[1].
  • Slow demand growth: despite an increase in insurer capital overall demand for reinsurance remained relatively stable year over year in major markets as a result of the continued downward trend in pricing and new capacity providing alternatives to traditional occurrence structures.
  • Global catastrophe losses well below average: insured global catastrophe losses in 2014 were at their lowest levels since 2009. Catastrophe-related losses in 2014 were tentatively listed at USD3 billion, which is down nearly 38 per cent from the 10-year average of USD63 billion. The losses are down 20 per cent from those sustained in 2013 (USD49 billion) and down 49 per cent from 2012 (USD77 billion).
  • Thunderstorms becoming costlier for worldwide insurers: for the second consecutive year, the severe thunderstorm peril was the costliest for the global insurance industry. With the exception of severe weather (convective storm) and winter weather, the rest of the natural disaster perils were either at or below their recent 10-year averages.

——-

[1] Aon Benfield Securities’ 2014 issuance figure excludes almost USD500 million in new issuance through private ILS structures

The post Reinsurance capital reaches record high appeared first on AdviserVoice.

]]> https://www.adviservoice.com.au/2015/01/reinsurance-capital-reaches-record-high/feed/ 0 2014 Aon Benfield Scholarship winner announced https://www.adviservoice.com.au/2014/06/2014-aon-benfield-scholarship-winner-announced/ https://www.adviservoice.com.au/2014/06/2014-aon-benfield-scholarship-winner-announced/#respond Tue, 03 Jun 2014 21:35:43 +0000 https://adviservoice.com.au/?p=30412 Aon Benfield and the Australian and New Zealand Institute of Insurance and Finance (the Institute) are pleased to announce the winner of the 2014 Aon Benfield Scholarship. 

Jenna Cooke, an actuary at Suncorp Commercial Insurance, was awarded the prize for her essay on the topic, “Will the Google car end automobile insurance as we know it?”

As part of her prize, Ms Cooke will attend the 49th annual Aon Benfield Global Clients Reinsurance Seminar in London in June, where she will gain an understanding of the principles and practices of arranging reinsurance on a global scale.

“I’m very excited and thankful to Aon Benfield for providing me with this wonderful opportunity. The chance to not only deepen my knowledge of reinsurance but also to connect with other insurance professionals from around the world is an invaluable experience. I’d also like to thank my managers and colleagues throughout Suncorp for encouraging my participation in this competition and being so supportive of my efforts,” said Ms Cooke.

Aon Benfield has funded the Scholarship for ten years. It was established to recognise an outstanding insurance professional in the Australian and New Zealand insurance markets and emphasise the importance of continuing professional development in all aspects of insurance.

Robert De Souza, President APAC/CEO Australia and New Zealand, Aon Benfield said, “This year’s competition attracted a large number of submissions of an extremely high standard. Congratulations to Ms Cooke on an outstanding accomplishment with an essay that included an emphasis on the need for continuous industry innovation. I am sure that her experience at the 49th Annual Aon Benfield Global Clients Reinsurance Seminar in London in June will provide her with invaluable reinsurance knowledge.”

Speaking on behalf of the Institute, CEO Prue Willsford said, “Jenna’s essay showed innovation and breadth of vision regarding the complexity of change and the ongoing evolution of the insurance industry. Her personal commitments to further education and leadership within the industry are also impressive and demonstrated that she is a great example of the future leaders of our industry.”

The Scholarship was determined by a judging panel of industry figures, including:

  • Robert De Souza – President APAC / CEO Australia & New Zealand, Aon Benfield
  • Prue Willsford – CEO, ANZIIF
  • Jacki Johnson – CEO, IAG New Zealand Limited
  • Rob van den Honert – Co-Deputy Director, Risk Frontiers, Macquarie University NSW
  • Tony Smith – Executive Manager Group Reinsurance, Suncorp
  • Stefan Golling – General Manager Non-Life, Munich Reinsurance Group
]]> Aon Benfield and the Australian and New Zealand Institute of Insurance and Finance (the Institute) are pleased to announce the winner of the 2014 Aon Benfield Scholarship. 

Jenna Cooke, an actuary at Suncorp Commercial Insurance, was awarded the prize for her essay on the topic, “Will the Google car end automobile insurance as we know it?”

As part of her prize, Ms Cooke will attend the 49th annual Aon Benfield Global Clients Reinsurance Seminar in London in June, where she will gain an understanding of the principles and practices of arranging reinsurance on a global scale.

“I’m very excited and thankful to Aon Benfield for providing me with this wonderful opportunity. The chance to not only deepen my knowledge of reinsurance but also to connect with other insurance professionals from around the world is an invaluable experience. I’d also like to thank my managers and colleagues throughout Suncorp for encouraging my participation in this competition and being so supportive of my efforts,” said Ms Cooke.

Aon Benfield has funded the Scholarship for ten years. It was established to recognise an outstanding insurance professional in the Australian and New Zealand insurance markets and emphasise the importance of continuing professional development in all aspects of insurance.

Robert De Souza, President APAC/CEO Australia and New Zealand, Aon Benfield said, “This year’s competition attracted a large number of submissions of an extremely high standard. Congratulations to Ms Cooke on an outstanding accomplishment with an essay that included an emphasis on the need for continuous industry innovation. I am sure that her experience at the 49th Annual Aon Benfield Global Clients Reinsurance Seminar in London in June will provide her with invaluable reinsurance knowledge.”

Speaking on behalf of the Institute, CEO Prue Willsford said, “Jenna’s essay showed innovation and breadth of vision regarding the complexity of change and the ongoing evolution of the insurance industry. Her personal commitments to further education and leadership within the industry are also impressive and demonstrated that she is a great example of the future leaders of our industry.”

The Scholarship was determined by a judging panel of industry figures, including:

  • Robert De Souza – President APAC / CEO Australia & New Zealand, Aon Benfield
  • Prue Willsford – CEO, ANZIIF
  • Jacki Johnson – CEO, IAG New Zealand Limited
  • Rob van den Honert – Co-Deputy Director, Risk Frontiers, Macquarie University NSW
  • Tony Smith – Executive Manager Group Reinsurance, Suncorp
  • Stefan Golling – General Manager Non-Life, Munich Reinsurance Group

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