Aon has pointed to rising demand for complex, integrated risk solutions as reinsurance placement activity stayed steady in the first quarter.

The world’s second-largest insurance broker reported 4 per cent organic growth in its reinsurance solutions business, driven by treaty placements and a double-digit increase in facultative business.

Greg Case, president and chief executive, said demand is shifting towards more sophisticated, capital-led approaches.

“As risk and complexity continue to grow, demand is increasing among global, large and middle-market clients for integrated, high-value solutions that combine expertise, data and analytics at scale,” he said.

“Our longstanding focus on these client segments along with our investments in analytics, technology and innovative capital solutions is expanding our addressable market.”

Bermuda has long been at the centre of the insurance-linked securities markets, with carriers and investors offering structured and alternative capital solutions alongside traditional cover.

Bermuda insurers accounted for about 92 per cent of global ILS in 2024, according to the BMA, which found expanding demand for such vehicles. In the first quarter alone, seven new special purpose insurers and two collateralised insurers were registered in Bermuda, following a total of 35 formed in 2025.

Overall, the market is staying active, Aon’s results suggested. The broker said net market impact in reinsurance was negative in the quarter due to price easing, but new business and retention stayed strong.