’We are extremely pleased to announce the renewal and expansion of ACT,’ says top boss

Aon will expand its London market placement facility in 2024 by increasing the share of its core Global Broking Centre (GBC) business offered through the arm.

London

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A statement released yesterday (11 December 2023) said the London market division, called Aon Client Treaty (ACT), will increase the maximum line size across the majority of its classes from 20% to 22.5%.

There will also be an uplift in property catastrophe aggregate and this, alongside an expansion to the approved leads ACT is permitted to follow, will enable it to represent a fuller indexation of risks placed in the London market, according to Aon.

Joe Peiser, chief executive of commercial risk solutions, said: “We are extremely pleased to announce the renewal and expansion of ACT.

“Aon’s 2023 global risk management survey showed that the risks our clients face are becoming ever more complex and volatile.

“ACT is a critical tool in helping our clients navigate this landscape, offering certainty of coverage, speed of placement and more efficient access to insurance capital.”

Growth

This came after ACT placed over $600m (£478m) in gross written premium (GWP) across more than 2,500 clients in 2023.

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This is expected to grow in 2024, with all of ACT’s existing carriers having renewed their participation and QBE continuing as the lead.

“We are also delighted with the continued strong support from our existing and new carrier participants,” Peiser said.

“ACT is now well established as a core differentiator for Aon as we continue to respond to client need and, while the rating environment has changed significantly since we launched ACT in 2015, the consistent demand we have seen throughout the market cycle is a powerful demonstration of its value to both clients and insurers.”

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