Aon combines Global MGA & Programme Solutions and Global Portfolio Broking teams into a unified, dedicated unit
LONDON (10 May 2019)– Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announces that it has combined its Global MGA & Programme Solutions and Global Portfolio Broking teams into a single, dedicated capability within its UK Reinsurance Solutions business.
The Managing General Agents (MGA) model continues to represent an attractive and flexible mechanism for linking risk to capital. This is evidenced by its success over the past five years in outgrowing other Property & Casualty industry sectors, its continued ability to attract entrepreneurial underwriters and the growing attention it receives from all types of re/insurance capacity.
The new Global MGA & Portfolio Solutions team has been formed to establish a centre of excellence for delegated authority and alternative portfolio expertise, including binding authorities, line slips and consortium arrangements. The team’s strategy will be to harness the power of Aon United to bring the best of Aon to drive innovation and grow this client segment. This includes teams from across Aon and bespoke MGA offerings from Aon Inpoint, Capital Advisory, analytics and property modelling/casualty actuarial capabilities. The team will work closely with the US MGA / Program Facilities Practice Group, which will continue to lead the US development of this vibrant market sector.
Reporting to Bob Bisset, Head of UK Strategic Growth, the team is led by Miles Shephard as Executive Chairman and Andrew Matson as Chief Executive Officer. It will provide global market knowledge and execution, and a capability that can be utilized by colleagues to provide solutions to a wide range of specific client challenges. The team will also create increased growth opportunities for reinsurance carriers to provide layers of capacity that complement MGA structures.
Bob Bisset commented: “The MGA segment represents a huge growth opportunity, both for our firm and the industry in general. The creation of the Global MGA & Portfolio Solutions team will enable us to bring a greater range of solutions to clients through a dedicated unit that houses decades of experience and successful transactions in this sector.”
Notes to Editors
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon announced in May 2018 it will retire the business unit brands of Aon Benfield and Aon Risk Solutions, which follows the retirement of the Aon Hewitt business unit brand in 2017. This move was designed to increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients. Aon has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
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