Global insurance and reinsurance broker, Aon, has launched a new London-based platform that matches underwriting expertise with capacity provision through fronting, MGA / MGU and captive solutions, called Alternative Distribution.
The new platform will work with fronting structures and will access capabilities from across the company to make a broad range of risk capital available to Aon’s clients. Additionally, Alternative Distribution will also provide the necessary supporting infrastructure, licensing and servicing resources.
According to Aon, the platform encompasses the previous Global MGA & Portfolio Solutions businesses, and will be led by Graeme Rayner as Chief Executive Officer (CEO) of Alternative Distribution. Rayner takes up the role from the start of January, 2021 and will report to Nick Frankland, UK CEO of Aon’s Reinsurance Solutions.
He brings more than three decades of multi-class underwriting experience across Lloyd’s Syndicate, Company and MGA platforms to the firm. Most recently, he served as Group Director of Underwriting & Active Underwriter at Pioneer Underwriting Ltd., and previously Chief Underwriting Officer (CUO) & Active Underwriter at Mitsui Sumitomo Underwriting Ltd.
Prior to this, Rayner served as Managing Director of Commercial Insurance at QBE Insurance (Europe), and has also held senior roles at Zurich Re (UK), and Johnson and Higgins Insurance Brokers.
Commenting on the new platform and the addition of Rayner, Frankland said: “We are immensely fortunate to have someone of Graeme’s proven calibre joining the firm at such a moment of opportunity for the entrepreneurial underwriting model in London. His appointment and the creation of the Alternative Distribution platform reflect Aon’s commitment to meeting client needs and building a market-leading proposition in the MGA and third-party underwriting service sector.
“Through this initiative, Aon aims to facilitate and improve capital deployment in this area, at a time when the market is undergoing significant challenges and change that will create opportunities for appropriately aligned underwriting structures and organisations.”