Global insurance and reinsurance broker Aon has announced the appointment of Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business.
Based in New York, O’Connell will lead the firm’s initiatives to provide transformative value to Reinsurance Solutions’ cyber clients and trading partners.
This will involve utilising innovative risk structuring, including insurance-linked securities (ILS) solutions, and leveraging broader access to insurance and reinsurance and the capital markets.
O’Connell will also provide bespoke portfolio advisory services and enhance risk understanding through extensive analytics, data science, and research capabilities.
Previously, O’Connell served as CEO of Bermuda-based Cyber Re Limited and Platform Labs, specializing in cyber underwriting, data science and analytics.
In conjunction with O’Connell’s appointment at Aon, Platform Labs has agreed to transfer ownership of its advanced intellectual property portfolio.
This portfolio consists of various cyber-related data science technologies and provisional patent applications that are registered with the United States Patent and Trademark Office.
O’Connell will collaborate closely with Aon’s cyber analytics leadership team to integrate these technologies, further enhancing Aon’s service capabilities and value proposition for its clients and global trading partners.
In his new role, O’Connell will report to Randy Stanco, U.S. strategic business leader for Reinsurance Solutions, who commented: “Rob’s extensive experience both in the cyber sector and risk transfer – from primary underwriting to ILS and reinsurance – brings a unique perspective.
“This will accelerate Aon’s cyber product development and sourcing of capital in this rapidly growing line of business. We are excited to see the value Rob will deliver as he works collaboratively with our global broking and cyber analytics teams to further enhance our capabilities and help shape better business decisions for clients.”
Aon has achieved several industry milestones in the cyber sector over the last 18 months, including issuing the first 144A cyber catastrophe bond for AXIS Capital, launching its Cyber Risk Analyzer platform, and expanding its cyber team with key hires.
Andy Marcell, CEO of Risk Capital at Aon, said: “With our commitment to investing in innovative solutions and top industry talent, we are continuing to help our clients navigate the complex and evolving cyber risk landscape, delivering the insights and value they require to address the most pressing cyber challenges.”
