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:
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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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Aon Client Treaty Renews with Record-Setting Support for 2025
ASTANA, Kazakhstan, Dec. 2, 2024 /PRNewswire/ -- Envision Energy, a leading global green technology company, has taken a major step in strengthening Kazakhstan's green energy transition by signing a strategic agreement with Samruk Energy and Kazakhstan Utility Systems to establish a localized manufacturing facility for wind turbines and energy storage systems in Kazakhstan. The agreement aims to enhance Kazakhstan's renewable energy capacity, drive local economic development, to accelerate the country's transition to a green economy.
As a global leader in renewable energy, Envision Energy will provide advanced technical support to Kazakhstan, particularly in the design, manufacturing, and operation of smart wind turbines and energy storage systems. By localizing the production of wind turbines and energy storage systems, the project will better meet Kazakhstan's domestic market demand and significantly reduce transportation costs and minimize environmental burdens within the supply chain. The project will enable Kazakhstan to stable energy supply while reducing reliance on external energy imports, thereby enhancing national energy security and supporting the achievement of its sustainable energy goals.
"We are excited to partner with Samruk Energy and Kazakhstan Utility Systems on this pioneering initiative." said Kane Xu, Senior Vice President and President of International Product Lines at Envision Energy, "The project marks a significant step in Kazakhstan's green transformation and aligns perfectly with our commitment to fostering sustainable energy solutions worldwide. Leveraging our cutting-edge industry expertise, Envision will support Kazakhstan in reducing carbon emissions, advancing clean energy, and attracting greater international capital and technology. This initiative will significantly advance the localization of wind turbine and energy storage system production, driving Kazakhstan's transition to a sustainable energy future while fostering economic growth and innovation."
"Collaboration with Envision Energy and Kazakhstan Utility Systems presents Kazakhstan with unique opportunities to advance renewable energy development and localize high-tech production," said Sabyrgali Idrisov, CEO of Kazakhstan Utility Systems. "This is not just a step toward energy independence but also a catalyst for creating new jobs, enhancing the skills of local specialists, and strengthening our role in the global green transition. We are proud to be part of this important project, which will make a significant contribution to the sustainable development of our country."
Envision is a global leader in green power, encompassing smart wind power, energy storage systems and green hydrogen solutions that address the challenges of climate change. Its intelligent wind turbines enhance efficiency and reduce power generation costs through advanced sensors and innovation. Envision's energy storage solutions are renowned for superior battery quality, intelligent design, and rapid deployment. With full-stack capabilities, end-to-end lifecycle management and its systematic grid-forming solution, Envision ensures grid stability and safety while driving innovation. The company has topped the wind power order intake for two consecutive years and was recognized as a Tier 1 Global Energy Storage Manufacturer by Bloomberg NEF for the third consecutive quarter, positioning the company among the top leaders in both wind power and the energy storage sector worldwide.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Envision Energy Makes a Strong Push in Kazakhstan with Localized Wind Turbines and Energy Storage Manufacturing
Envision Energy Makes a Strong Push in Kazakhstan with Localized Wind Turbines and Energy Storage Manufacturing
