Aon seeing strong and growing demand across treaty and fac reinsurance: Andy Marcell

At Aon’s Investor Day 2025, Andy Marcell, CEO of Global Solutions, said that reinsurance continues to see strong demand, driven by climate change and social inflation in the US casualty market, adding that he expects Aon to sustain mid-single-digit growth or higher in its Reinsurance Solutions business across regions.

Marcell outlined Aon’s key growth priorities in reinsurance, noting that the firm plans to invest further in its treaty capabilities, insurance-linked securities (ILS), and its US regional insurers.

He said, “We’re going to double down in our treaty capabilities, particularly property where we lead, but also casualty and cyber, where there’s growing demand in our facultative capabilities, where over the last eight to 10 years, we’ve seen high single digit growth to double digit growth. And so, we’re going to continue to invest in that.

“Insurance linked securities, so think cat bonds, where we’ve been the market leader for some time, demand and our position in that is accelerating all the time. So, we can put more resources into that category.

“And last but not least, our US regional insurers, we want to grow our market share there, we have a lot of headroom to grow.”

Marcell also shared that Aon’s Reinsurance Solutions business generated $2.7 billion in 2024 revenue, with a 6% 10 year average organic growth, and around $60 billion in subject premium.

The strong demand he referenced is reflected in Aon’s Reinsurance Solutions Q1 2025 results, which delivered year on year organic revenue growth of 4% to $1.2 billion.

He also highlighted Aon’s continued investment in analytics as a key differentiator, pointing to the firm’s proprietary natural catastrophe model, Impact Forecasting, which covers 135 individual perils across 90 countries. He described it as critical to Aon’s leadership in the property catastrophe space, particularly as demand surges due to climate change.

“So, it positions us extremely, extremely well. Beyond our core treaty business, we have spent considerable time in diversifying our revenue flows from back wholesalers to capital markets and our advisory which now represent those three categories, 25% of our revenue,” he explained.

In addition, Marcell spoke about the recent appointment of John Neil, who will join the company at the beginning of September as Global CEO of Reinsurance and Global Chairman of Climate Solutions. Meanwhile, Marcell was recently named CEO of Global Solutions.

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