Mr. Miller is a Managing Director at Aon Securities. Rick focuses on the structuring of bonds linked to catastrophe risk as well as other types of insurance capital market transactions. Prior to joining Aon, Rick was the Co-Head of Insurance Linked Securities (ILS) for Jardine Lloyd Thompson Capital Markets (JLTCM), where he built the capital markets platform (originally Towers Perrin Capital Markets) from the ground up. While at JLTCM, Rick developed the private placement cat bond structure for middle market and super-regional cedents. The private placement approach provides for significant cost savings relative to more broadly syndicated transactions. Rick also has extensive experience with other esoteric asset classes.
After 12 quarters of increasing rate, the sense is that the property market may be starting to ease a bit, but there’s still upward pressure on rates. On average, clients should be expecting pressure of anywhere between 5% and 15% in the short term in terms of rate.28 February 2021