Aon Capital Markets Places Industry's First Transaction Utilizing WindX Parametric Index Solution
22 Settembre 2008 - 7:00PM
PR Newswire (US)
CHICAGO, Sept. 22 /PRNewswire-FirstCall/ -- Aon Capital Markets
today announced it has placed the industry's first transaction
utilizing the WindX(TM) parametric index solution. The transaction
provides coverage from named storms based on wind speed data at
several wind stations in Florida. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO) WindX is a
proprietary parametric index solution designed to support the
transfer and trading of catastrophic hurricane risk in the capital
markets. This solution is based on location-specific wind speed
measurements, either through direct reference to wind speed
parameters or as a base input for derived indices. WindX supports a
wide range of financial structures including over-the-counter
derivative contracts, catastrophe bonds, and industry loss
warranties. "Aon Capital Markets has once again established itself
as a leader in providing alternative risk solutions for our
clients," said Paul Schultz, president of Aon Capital Markets.
WindX is driven by the WeatherFlow Hurricane Mesonet, a network of
hurricane-hardened weather stations specifically designed to
measure and record hurricane-force winds. Stations in this new
network are strategically sited to accurately capture hurricane
events and support the transfer of hurricane risk. The wind speed
data is valuable to others including emergency managers, modelers,
insurers, and investors. Market development for WindX is a joint
effort between WeatherFlow Inc, a leading provider of proprietary
weather data and Risk Management Solutions, a leading catastrophe
risk management company. About Aon Capital Markets Aon Capital
Markets is Aon Re Global's boutique investment bank, providing
clients with strategic advice and access to all forms of capital,
and financial advisory services. Aon Capital Markets is one of the
primary innovators of insurance-linked securities and recently
completed the largest insurance-linked securitization in history.
Since bringing the first ILS deal to the market in 1994, Aon
Capital Markets has brought more than 50 deals to market. About Aon
Re Global Aon Re Global provides clients with integrated capital
solutions and services through a world-class network of experts in
more than 35 countries. Clients are better able to differentiate
and meet their business objectives with Aon Re Global's
best-in-class treaty and facultative reinsurance placement
services, capital markets expertise, and relevant analytics and
technical expertise, including catastrophe management, actuarial
and rating agency counsel. Aon Re Global was named best reinsurance
broker in 2008, 2007 and 2006 by readers of Business Insurance.
About Aon Aon Corporation (NYSE:AOC) is the leading global provider
of risk management services, insurance and reinsurance brokerage,
human capital and management consulting. Through its 36,000
colleagues worldwide, Aon readily delivers distinctive client value
via innovative and effective risk management and workforce
productivity solutions. Our industry-leading global resources,
technical expertise and industry knowledge are delivered locally
through more than 500 offices in more than 120 countries. Aon was
named the world's best broker by Euromoney magazine's 2008
Insurance Survey. In 2008, Aon ranked highest on the Business
Insurance ranking of the world's largest insurance brokers based on
commercial retail, wholesale, reinsurance and personal lines
brokerage revenues. Aon also was ranked by A.M. Best as the number
one insurance broker based on brokerage revenues in 2007 and 2008,
and was voted best insurance intermediary, best reinsurance
intermediary, and best employee benefits consulting firm in 2007
and 2008 by the readers of Business Insurance. Media Contact
Rahsaan Johnson 1.312.381.2684,
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT:
Rahsaan Johnson of Aon Corporation, +1-312-381-2684, Web site:
http://www.aon.com/
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