Integration of Tyche into Aon's existing solutions will better enable re/insurers to rethink access to capital
LONDON, March 1, 2022 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today announced it has acquired actuarial software platform Tyche from technology and software firm RPC Tyche. The transaction significantly expands Aon's existing capabilities to help re/insurer clients rethink access to capital and make better business decisions.
The acquisition of Tyche will enable Aon to offer re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business.
Nick Frankland, chairman of Aon's insurance consulting team, said: "This innovative new offering, combined with our existing global capabilities, will help to bring significant value to Aon's re/insurer clients and deliver new software and consulting solutions to previously underserved markets. As our clients face increasingly complex risks and evolving regulatory requirements, Tyche's expertise is designed to underpin insurers' decision-making frameworks. We are thrilled to welcome Tyche's nearly 140 colleagues to Aon as we share a commitment to innovating on behalf of clients."
Tyche, a specialist in developing customized risk and capital modelling software for actuaries, quantitative analysts and risk teams, serves global clients that include some of the largest life, non-life, and composite insurers and pension firms, as well as leading professional services providers.
Alun Marriott, managing partner of Tyche, said: "Tyche has built a highly respected and utilized range of risk and capital modelling platforms and consultancy services, and combining with Aon can take us to the next level in terms of capabilities, distribution and delivery. By uniting our passion for technology-driven insight, we will bridge gaps and enhance solutions to benefit clients."
The terms of the acquisition were not disclosed.
Read more about Aon's and Tyche's solutions here.
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
Aon UK Limited is authorised and regulated by the Financial Conduct Authority for the provision of regulated products and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500. FP13028-AD
About RPC Tyche
RPC Tyche is the technology software and consulting company behind the award-winning software Tyche, recently announced as Actuarial Software of the Year by Insurance ERM. Our services are used by some of the largest life, non-life, composite and pension firms, as well as leading professional services providers, which benefit from the market disruption our ground-breaking capabilities give them. Our headquarters are in the City of London and we have offices in Paris, Brussels and the United States of America.
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SOURCE Aon plc