Global re/insurance broker Aon has made two keys leadership appointments within its reinsurance solutions unit, adding Tim Radford to its London capital advisory team and naming Marcus Foley head of capital management in Bermuda.
Radford will look to bolster the team’s capabilities in Lloyd’s capital optimization and Funds at Lloyd’s (FAL) provision.
He will report to James Mackay, head of Lloyd’s relationships within London Capital Advisory and joins from insurance-linked securities (ILS) fund manager Securis Investment Partners.
Radford most recently worked within Securis’s life team and was also a property treaty underwriter at Swiss Re.
“We are delighted to have Tim join the Capital Advisory team at a time when the insurance and reinsurance markets have heightened focus on optimized capital solutions in the wake of a challenging few years for the industry,” said Eric Paire, Head of London Capital Advisory for Aon.
“Our Lloyd’s capital optimization and FAL provision team continues to deliver steady growth, and this is yet another example of how we are building-out our capital management capabilities on behalf of Lloyd’s syndicates, and insurer and reinsurer clients, which recognize the importance of having access to such holistic solutions.”
Foley will report to Tony Fox, Chairman and Chief Executive Officer, Bermuda, and Eric Paire, Head of London Capital Advisory of Reinsurance Solutions.
He joins from specialty insurance and reinsurance company Aspen, where he most recently served as Group Chief Capital Management and Strategy Officer.
During his 15-year career, Foley also worked as a capital modeler at EMB Consultancy LLP.
Commenting on Foley’s appointment, Fox added, “We are excited to welcome Marcus to our team, and believe that his skills will become an important part of our offering as clients seek to holistically plan their capital management strategies.”
Andy Marcell, CEO of Reinsurance Solutions at Aon, noted, “Over the past several years, we have been increasing our capital management advisory capabilities globally. In hiring Marcus, we aim to augment that service and deliver it to a greater range of clients.”