Robust competition is creating a more buyer friendly market: Aon's Spring 2024 Canadian Insurance Market Update

CNW Group05-23

TORONTO, May 23, 2024 /CNW/ -- Aon plc (NYSE: AON), a leading global professional services firm, has released its Spring 2024 Canadian Insurance Market Update. Published in support of Aon's ongoing ...

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Published in support of Aon's ongoing ...</p>\n\n<a href=\"https://finance.yahoo.com/news/robust-competition-creating-more-buyer-124500242.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AON","symbol_name":"怡安保险","start_time":0,"source_url":"https://finance.yahoo.com/news/robust-competition-creating-more-buyer-124500242.html","article_id":"2437475176","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/UhXBbfAqf1AhidvBHgGd6A--~B/aD0yNDE7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/cnwgroup.com/76dc41cde015316529b22474a9566fcf"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437475176","pubTimestamp":1716468300,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"TORONTO, May 23, 2024 /CNW/ --Aon plc , a leading global professional services firm, has released its Spring 2024 Canadian Insurance Market Update. Published in support of Aon's ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs, the report finds that a robust competition within the Canadian insurance market is creating a more buyer friendly market. Competition is returning as insurers look for growth opportunities with a particular emphasis on well-performing risks. The appetite for growth is expected to expand and evolve with insurers competing to retain and grow their positions in the market.\"Overall, there is an expansion in capacity and appetite signaling that the market is transitioning into a more competitive space. However, the focus on risk selection continues to prevail as insurers strive to maintain profitability,\" said Russell Quilley, head of commercial risk and chief broking officer for Canada at Aon. \"Underwriti","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AON":"怡安保险","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","BK4173":"保险经纪商","SG9999014906.USD":"大华全球优质成长基金Acc USD","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","BK4532":"文艺复兴科技持仓","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","BK4585":"ETF&股票定投概念","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","BK4559":"巴菲特持仓","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4588":"碎股","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD"},"translate_title":"激烈的竞争正在创造一个更有利于买家的市场：怡安2024年春季加拿大保险市场更新","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AON":0.9},"content_text":"TORONTO, May 23, 2024 /CNW/ -- Aon plc (NYSE: AON), a leading global professional services firm, has released its Spring 2024 Canadian Insurance Market Update. Published in support of Aon's ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs, the report finds that a robust competition within the Canadian insurance market is creating a more buyer friendly market. Competition is returning as insurers look for growth opportunities with a particular emphasis on well-performing risks. The appetite for growth is expected to expand and evolve with insurers competing to retain and grow their positions in the market.  \n\"Overall, there is an expansion in capacity and appetite signaling that the market is transitioning into a more competitive space. However, the focus on risk selection continues to prevail as insurers strive to maintain profitability,\" said Russell Quilley, head of commercial risk and chief broking officer for Canada at Aon. \"Underwriting remains disciplined and risk differentiation continues to be a top priority as underwriters increasingly rely on data, insights, and analytical tools such as modelling to support decision making.\"\nOther key findings include:\n\nAs organizations seek to manage volatility in their insurance programs, there is momentum in the market for alternative risk solutions such as parametric solutions, structured insurance facilities and captives.\n\n\nMany insurers returned to profitable positions in 2023, leading to healthy competition in the marketplace.\n\n\nInsurers are managing their portfolio performance through careful risk selection and deploying capacity strategically which highlights the importance of quality and robust risk information for policyholders.\n\n\nLondon markets are looking to diversify their global portfolios and Canada is seen as an attractive investment due to our relatively low catastrophic exposure.\n\n\nFollowing remediations to their portfolios, most domestic insurers are targeting the manufacturing space as a growth segment softening appetites to achieve growth ambitions and retentions.\n\n\nIn 2023, global economic losses are estimated at $380 billion while the global insured losses were $118 billion, creating a 69% global protection gap.\n\nAbout Aon Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries and sovereignties with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.\nFollow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon's newsroom and sign up for news alerts here.\nMedia ContactAlexandre Daudelinalexandre.daudelin@aon.com+1 514 967 9330\n\n\n\n\n\nSOURCE Aon plc\n View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/23/c2850.html","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437475176"}