- Flagship facility will grow to co-insure 28.5 percent of
business placed by Aon's Global Broking Centre, a record increase
as it enters its tenth year
- Renewal includes three-year letter of intent from market
partners and introduction of "ACT Client Dividend" — two landmark
client features
LONDON, Dec. 2, 2024
/PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional
services firm, today announced the successful renewal and expansion
of the Aon Client Treaty (ACT). ACT is the firm's signature London
Market placement facility that helps clients respond to complexity
with new sources of capital.
In 2025 – the treaty's tenth year offering innovative,
sustainable capacity to clients – ACT will offer 28.5 percent
co-insurance across core lines of business placed through Aon's
Global Broking Centre in London.
This is the treaty's largest capacity increase, up from 22.5
percent in 2024. Since inception in 2016, over $3.5bn in gross written premium has been placed
through ACT.
ACT clients will benefit from increased capacity with three new
market partners joining ACT in 2025; all existing market partners
have also renewed their participation, with QBE continuing as the
lead. Additionally, all participating market partners have agreed
to a three-year letter of intent, indicating their long-term intent
to support the program and demonstrating strong demand from London
Market insurers.
Aligning benefits between clients and market partners is
foundational to ACT's long-term success, and to further support
this, Aon is introducing the ACT Client Dividend in 2025, which is
a 1.5 percent reduction applied to the portion of the premium
placed through ACT.
Joe Peiser, CEO of Commercial
Risk for Aon, said: "The renewal and record expansion of Aon Client
Treaty, now in its tenth year, reflects the value it delivers for
both clients and participating market partners. As the complexity
and size of the risk landscape increases, it is essential that our
clients access the insurance capacity they need with speed and
certainty."
Tracy-Lee Kus, CEO of Aon's
Global Broking Centre, commented: "Innovation is essential to allow
clients to access risk capital more efficiently and Aon's
significant investment in managing data and information has been a
key factor in the growth and sustainability of ACT. We will
continue to invest and scale this revolutionary approach to
securing risk capital on behalf of our clients.
"The support of market partners, now further strengthened
through a three-year letter of intent, is essential to the success
of ACT; we are pleased to welcome three new participants and will
continue to work closely with our partners to ensure ACT remains a
solution that meets the needs of our clients," Kus continued.
ACT is a demonstration of Aon's Risk Capital strategy, bringing
together deep expertise and capabilities to provide innovative
client solutions, including:
- A global network of client experts working hand-in-hand with
Aon's Global Broking Centre to ensure the optimal placement
strategy for clients.
- Delegated underwriting and exposure management services through
Aon's MGA (Aon Underwriting Managers) to manage risk and volatility
in line with market partner requirements.
- Actuarial and consulting through Aon's Strategy and Technology
Group providing insights and projections.
Learn more about the Aon Client Treaty here.
About 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 with the clarity and confidence to make better risk
and people decisions that protect and grow their businesses.
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Media Contact
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Puerto Rico): +1 833 751 8114
International: +1 312 381 3024
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SOURCE Aon plc