Re/insurance broker Aon has announced the formation of a new team in its Reinsurance Solutions business that will provide additional sources of ILS capacity to clients.
The Capital Partners team will initially bring third-party property catastrophe capacity to clients in London, Bermuda, Europe and Asia, before expanding into other business lines and regions.
The team will work with the Aon Securities and Capital Advisory units to help clients lower their cost of capital, reduce volatility, and identify new opportunities for growth.
In addition to their existing roles, Richard Wheeler will become Head of Capital Partners, supported by Anshuman Srivastava as Deputy Head.
Both Wheeler and Srivastava will report to Nick Frankland, UK CEO of Reinsurance Solutions, and Paul Schultz, CEO of Aon Securities.
“Capital Partners has been formed to help us to unite our extensive global resources in capital raising and thereby deliver new opportunities to our clients,” said Frankland.
“Alongside Aon Securities’ ILS capability, and Capital Advisory’s Funds at Lloyd’s (FAL) reinsurance capital raising expertise, it will give us another dimension to our investor access.”
Paul Schultz, CEO of Aon Securities, also commented: “Sourcing capital in its various forms is complex and challenging, particularly in the evolving economic environment. Through innovative capital discussions, the Capital Partners team has been established to support its clients with capacity from a wider investor base, distributed globally across different classes of investors.”
Schultz added: “Working with Aon Securities and Capital Advisory, the team will be responsible for the development and attraction of all forms of third-party and alternative capital into the reinsurance sector.”
Andy Marcell, Global CEO of Reinsurance Solutions, further stated: “Matching capital to risk in an efficient and effective manner requires firms to employ more resources than ever before. Uniting our capabilities through this new initiative will help to provide these resources in order that our clients can better access global capital, improve their resilience and realise their growth ambitions.”
