Aon Securities, the investment banking division of leading global professional services firm Aon plc has announced the appointment of Michael Popkin and Rick Miller.
Popkin spent nearly eight years co-leading the capital markets businesses at JLT and Towers Watson, where he and Miller pioneered the development of private placement catastrophe bonds.
Previously, Popkin worked in investment banking and energy. He also has buy-side experience as a portfolio manager in structured credit, as well as significant international experience, having worked in the US, Europe, and Asia.
Miller was co-head of the capital markets business at JLT and its predecessors, Towers Watson and Towers Perrin, for nearly 10 years.
He launched and developed the capital markets desk, and, with Popkin developed the private placement technology for the insurance linked securities (ILS) markets.
His experience within the ILS community originated at Swiss Re Capital Markets, where he played an instrumental role in facilitating secondary market liquidity in broken distressed catastrophe bond positions after the 2008 financial crisis.
Miller and Popkin start their new roles with immediate effect, reporting to the Chief Executive Officer of Aon Securities, Paul Schultz.
Paul Schultz said: “The insurance-linked securities sector continues to be an incredibly dynamic environment, characterized by continued growth in alternative capital and investors and sponsors that are willing to look at new ways to match risk and capital.”
“We welcome Mike & Rick to the team as we work together to drive innovation across geographies and perils in the ILS space in order to ensure its continued growth.”
Jennings continued, “The transition of P&I claims responsibilities to Mike and Matt is testament to their skills and experience, and the changeover of the leadership team in Underwriting recognises the knowledge, skills and experience of Thya, Steve and Simon.”
“Under their collective leadership, North’s P&I and Underwriting departments will continue to thrive in the years to come.”
