Aon Plc Stock Price, News & Analysis

Aon plc (NYSE: AON) has appointed John Neal as Global Chairman of Climate Solutions and Global CEO of Reinsurance. Neal, who will join from Lloyd's of London where he served as CEO since 2018, will focus on addressing climate-related risks and enhancing Aon's Reinsurance capabilities.

During his tenure at Lloyd's, Neal led a transformation that achieved industry-leading performance and the company's strongest financial position in its 340-year history. Previously, he served as Group CEO of QBE, managing a $14 billion gross written premium business across 37 countries.

In his new role at Aon, Neal will be based in London, reporting to Andy Marcell, CEO of Risk Capital. He will help tackle increasing volatility driven by climate-related events while leveraging Aon's integrated Risk Capital capabilities to deliver advanced analytics, innovative solutions, and access to new capital sources.

Aon (NYSE: AON) has acquired Salus Group through its subsidiary NFP. Salus Group, founded in 2005, is a leading independent benefits consulting, brokerage and administration firm specializing in credit unions and middle-market employers, including those with unionized workforces. The company operates nationwide from its Michigan base.

NFP, as part of Aon, provides consultative services addressing risk, workforce, wealth management and retirement challenges, employing over 7,700 colleagues across the US, Puerto Rico, Canada, UK and Ireland. Woodward Park Partners served as the exclusive financial advisor to Salus Group in this transaction.

Aon and the European Bank for Reconstruction and Development (EBRD) have launched a €110 million war risk insurance facility for Ukraine. The initiative aims to revitalize Ukraine's war risk insurance market through a guarantee scheme supporting reinsurance capacity for international reinsurers and Ukrainian insurance companies.

The facility includes MS Amlin as the first international reinsurance partner, alongside three Ukrainian insurers: INGO, Colonnade, and UNIQA. Initially covering inland cargo, motor vehicle damage, and railway rolling stock, the facility could insure up to €1 billion worth of goods and vehicles annually. The program represents part of Aon's broader support for Ukraine's economy, contributing to over $465M in public and private capital for war risk insurance.

Aon's 19th annual Benefits Survey of Hospitals reveals significant improvements in U.S. hospital employee retention. Turnover rates have dramatically decreased, with only 7% of hospitals reporting increased nurse turnover (down from 62% in 2023), 5% for non-physician clinical positions (down from 41%), and 9% for physicians (down from 22%).

To address ongoing staffing challenges, hospitals have implemented various measures: 70% increased new hire pay, 69% enhanced sign-on bonuses, and 61% raised minimum wage scales. Healthcare costs per beneficiary rose 8.5% to $17,520 in 2024. The survey, covering over 3.3 million employees across 1,500 hospitals, also shows extensive benefits enhancements, with 70% improving voluntary benefits and 67% enhancing tuition reimbursement.

Aon's 2024 North America Pay Transparency Readiness Study reveals that 75% of employers are not prepared for upcoming pay transparency laws. These regulations will affect 14 U.S. states and four Canadian provinces by 2025, and all EU countries by 2026.

Key findings from the study of 626 U.S. employers show that only 51% have conducted independent pay equity analyses, with 84% of those identifying pay gaps. However, just 34% of employers who found inequities have allocated funds to address them. Only 18% of employers feel ready for pay transparency, with retail & e-commerce showing the highest readiness at 33%.

The study also reveals that 63% of employers don't communicate salary ranges to employees, though 81% publish ranges in job postings. The predicted average salary increase budget for 2025 is 4.6%, similar to 2024's 4.7%. Employee turnover in the first half of 2024 was 20.7%, with 11.8% leaving voluntarily.

Aon plc has appointed Anne Corona as CEO of Enterprise Clients and global chief commercial officer, effective January 1, 2025. This strategic move aims to enhance commercial capabilities through deeper alignment, data analytics integration, and global service excellence. Corona, who previously served as CEO of Asia Pacific, brings nearly 25 years of experience with Aon. In her new role, she will collaborate with Enterprise Client Group leaders and regional chief commercial officers to evolve Aon's Client Leadership strategy, focusing on delivering integrated solutions for client business protection and growth.

Aon plc has announced the successful renewal and expansion of its Aon Client Treaty (ACT) for 2025. The flagship London Market placement facility will increase its co-insurance capacity to 28.5%, up from 22.5% in 2024, marking its largest capacity increase since inception. The renewal includes three new market partners, with all existing partners renewing their participation and agreeing to a three-year letter of intent. QBE continues as the lead partner. Since 2016, over $3.5bn in gross written premium has been placed through ACT. A new ACT Client Dividend feature will be introduced in 2025, offering a 1.5% premium reduction on ACT-placed portions.

Jeeno Thitikul has won the 2024 Aon Risk Reward Challenge, securing a $1 million prize and the Aon Trophy. The Thai golfer demonstrated exceptional decision-making skills with +0.39 strokes gained on Challenge holes and a 35% go-for-green success rate. Thitikul's 2024 season included her third LPGA Tour victory and 11 top 10 finishes. The Challenge, now in its sixth season, is a unique competition across 30 regular season tournaments that highlights golf's best strategic decision makers. Players must compete in a minimum of 40 rounds throughout the season to qualify.

Aon has launched its Cyber Risk Analyzer, a digital application enabling risk managers to make data-driven decisions for mitigating cyber risk. The tool provides three key features: Loss Forecasting for modeling detailed loss scenarios, Exposure Assessment integrating with Aon's CyQu platform, and Total Cost of Risk Analysis combining loss forecasts with insurance options. This launch follows Aon's 2024 releases of Property, Casualty, D&O, and Health Risk analyzers, helping clients navigate complex cyber threats including ransomware, business interruption, insider threats, and data breaches.