Broking giant Aon has re-organised some of the leadership of its Reinsurance Solutions division, as it seeks to place an emphasis on delivering greater client choice and innovation.
It’s the latest major change to Aon’s leadership since the collapse of its acquisition of rival insurance and reinsurance broker Willis Towers Watson (WTW).
The broker unveiled a new Executive Committee structure in July, which it said was a further acceleration of its Aon United strategy.
Now, the Reinsurance Solutions division is the subject of significant changes, with a number of movements and new appointments revealed today.
Aon said it has annoounced, “new global leadership roles in Reinsurance Solutions to enable greater focus on creating client value, product and market segmentation and regional reach.”
Joe Monaghan is set to take the role of Global Growth Leader, with full responsibility for overall growth strategy of Aon’s Reinsurance Solutions.
Monaghan will also continue as CEO of Aon’s Public Sector Partnership, but now has responsibility for developing innovation at scale and integrating practice groups, client segments, global specialties, capital advisory, securities and regional growth priorities and strategic growth leaders, the company said.
Tim Ronda, President of Reinsurance Solutions’ U.S. business, is set to take on the role of Global Geographic Leader and will oversee Reinsurance Solutions’ regional capabilities worldwide.
Nick Frankland is set to take on the position of Chairman of the Insurance Consulting Group. This is a move to expand innovation, technology, consulting and advisory capabilities, while delivering greater services and the full Aon United product suite to the brokers’ clients.
Frankland will be tasked with formulating a business strategy for this and developing a long-term plan to further enhance Aon’s capabilities here, in what is seen as a growing area of client need.
Richard Posgate takes the role of Head of Strategy to help shape the future of the Aon Reinsurance Solutions business, with oversight of acquisitions and a responsibility to monitor business performance to drive efficiency and growth.
Monaghan, Ronda, Frankland and Posgate will all report to Andy Marcell, global CEO of Aon’s Reinsurance Solutions.
Leonora Siccardi will also take on a new role as Reinsurance Solutions’ Chief Operating Officer (COO), having previously been Global Head of Operations and Client Services.
Siccardi will lead the development of Reinsurance Solutions’ global operating strategy and work with leaders across the reinsurance broking business to transform, innovate and scale its operating model to deliver growth. She will also continue as Aon’s EMEA COO.
Sarah Walker will oversee Reinsurance Solutions’ global legal and compliance support, assisted by Peter Banick and subject matter experts across the globe. This is on top of her current responsibilities as Aon’s Deputy General Counsel.
Marcell commented on all the team moves, saying, “These new roles demonstrate the investment in our talent to nurture the next generation and evolve our team. They are designed to support our aims to further scale our capabilities across Reinsurance Solutions and deliver greater choice and innovation to our clients. We have already built strong foundations to achieve future success, and relationships and expertise will remain at the heart of our offering as we deliver strategies committed to tackling clients’ evolving needs around climate, capital and systemic risk.”
These announcements all seem part of Aon’s drive to better integrate its extensive service offerings, while ensuring that clients remain the focus and are able to access the expertise they need.
Growth also remains a focus and right now, after the M&A experience, it is important Aon pushes for growth in reinsurance to prevent smaller brokers gaining market-share at this time.
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