Insurance and reinsurance broker Aon has announced that Stephen Pett, formerly of Nephila Capital, is to joins its Reinsurance Solutions operation in Bermuda as a Vice President and broker.
Pett is expected to join Aon in Bermuda on September 15th, 2020 and will have a focus on industry loss warranties (ILWs) and other specialty reinsurance products.
He brings over 15 years of analytics and underwriting experience to the brokerage, and joins from Nephila, the world’s largest insurance-linked securities (ILS) and reinsurance fund manager.
Since January 2016, he served as a senior member of Nephila’s underwriting team, acquiring skills and expertise in global property catastrophe reinsurance underwriting and ILW trading, as well as assisting in underwriting planning, deal approval, and team management.
During his career, Pett has also worked at reinsurers Ariel Re, Flagstone Re, and Montpelier Re.
In his new role at Aon, he will report to Tony Fox, Chairman and Chief Executive Officer (CEO), Bermuda, Aon Reinsurance Solutions. Fox commented: “We are excited to welcome Stephen to our Bermuda team. His extensive experience across insurance-linked securities and traditional products perfectly complements Aon’s approach to providing our clients with a broad range of capital solutions and services.”
Richard Wheeler, Head of Non Marine Property/Retro for Reinsurance Solutions’ Global ReSpecialty team, said: “Being based in Bermuda, Stephen will help to further enhance our capabilities and network in this important market. Working closely with our London and global teams, he will bring together extensive resources in order that we can deliver the power of our united firm directly to our clients.”