Re/insurance broker Aon plc has established a new Carrier Solutions group as part of its brand restructure, and has appointed Karl Hennessy as Chief Executive Officer (CEO).
The newly formed group is designed to support Aon’s network of Managing General Agents (MGAs) and Managing General Underwriters (MGUs) by delivering innovative products, streamlining transaction processes, and providing access to new sources of risk capital.
Hennessey, who was most recently President of Aon Broking, will utilise his 25 years’ industry experience to develop Aon’s strategy for MGAs and MGUs by working with carriers, broking leaders, and reinsurance colleagues.
He will continue to be based in London, and will report to Michael O’Connor, co-President of Aon plc., who commented: “Karl’s global expertise working with carriers to bring innovative solutions to the marketplace makes him extremely qualified to lead our new group.
“There is great potential to grow our MGA and MGU network, offering new solutions to our clients, and Karl is uniquely poised to help Aon realize this opportunity.”
Additionally, Andy Jenn, current Chief Operating Officer (COO) at Aon Broking, will transition into a new role as COO for the new Carrier Solutions group.
In May 2018, Aon announced that it intends to retire its Aon Benfield and Aon Risk Solutions business unit brands to increase the rate of innovation and collaboration within the firm.
Aon now has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
