Aon adds Latin America modelling capabilities

Aon has added earthquake and hurricane catastrophe modelling for Latin America and the Caribbean to its capabilities with the acquisition of Evaluación de Riesgos Naturales (ERN), a Mexico-based risk assessment modeller.

Terms of the transaction, which has closed, were not disclosed.

ERN, founded in 1996, will join Aon’s Reinsurance Solutions business and collaborate with its Impact Forecasting team.

Keith Lawler, managing director of Aon Reinsurance Solutions in Latin America, will serve as CEO of the business, while ERN founders Eduardo Reinoso and Mario Ordaz will join Aon as senior scientific advisers.

“ERN has approximately 30 employees who joined Aon as part of the acquisition,” said an email from a company spokesman.

During the past decade, Latin America has seen $64.4bn in insured losses driven mainly by tropical hurricanes, earthquakes, droughts and flooding, Aon said.

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