Aon Client Treaty expands its share of business for 2024

Aon has announced the “successful renewal and expansion” of its Aon Client Treaty (ACT).

The re/insurance broker describes ACT as its “flagship London Market placement facility”.

In 2024, Aon said ACT will offer 22.5% co-insurance across core lines of business placed through Aon’s GBC in London, providing pre-secured and ring-fenced aggregate capacity to those clients who select it.

Maximum line size across the majority of its classes will increase from 20% to 22.5%, Aon said.

“We are extremely pleased to announce the renewal and expansion of ACT,” said Joe Peiser, Aon’s CEO of commercial risk solutions.

Aon’s 2023 Global Risk Management Survey showed that the risks our clients face are becoming ever more complex and volatile, he noted.

“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,” Peiser said.

For 2024, all ACT’s existing carriers have renewed their participation with QBE continuing as the lead.

Two new carriers have also come on board, Aon revealed.

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

In 2023, ACT placed more than $600m in gross premium across more than 2,500 clients, the broker said, expected to grow in 2024.

There will also be an rise in US property catastrophe aggregate, Aon said.

The broker said 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.

“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,” Peiser added.