Aon’s Reinsurance Solutions division has announced two key hires in its Capital Management units in Bermuda and London, with Marcus Foley of Aspen joining to lead its Bermuda Capital Management team and Tim Radford from ILS specialist Securis Investment Partners joining the London Capital Management unit.
Marcus Foley joins the Bermuda operations of Aon Reinsurance Solutions as Head of Capital Management, subject to Bermuda immigration approval.
Foley will be based in Bermuda and report to Tony Fox, Chairman and Chief Executive Officer, Bermuda, as well as to Eric Paire, Head of London Capital Advisory of Reinsurance Solutions.
Foley was most recently employed by specialty insurance and reinsurance firm Aspen, where he was Group Chief Capital Management and Strategy Officer. Across a 15-year career Foley also worked as a capital modeler at EMB Consultancy LLP.
Tony Fox commented on Foley’s appointment, “We are excited to welcome Marcus to our team, and believe that his skills will become an important part of our offering as clients seek to holistically plan their capital management strategies.”
Andy Marcell, CEO of Reinsurance Solutions at Aon, added, “Over the past several years, we have been increasing our capital management advisory capabilities globally. In hiring Marcus, we aim to augment that service and deliver it to a greater range of clients.”
Eric Paire also said, “We are seeing a growing demand from our clients for independent bespoke advice. Marcus, working with Reinsurance Solutions’ Bermudian office, and supported by the Capital Advisory team in London, brings expertise and experience to serve the sophisticated Bermudian market.”
Tim Radford joins the London Capital Advisory team within Aon Reinsurance Solutions to support its capabilities in Lloyd’s capital optimisation and Funds at Lloyd’s (FAL) provision.
He will report to James Mackay, Head of Lloyd’s Relationships within Aon’s London Capital Advisory unit.
Radford most recently worked at insurance-linked securities (ILS) fund manager Securis Investment Partners with a focus on the origination, analysis and structuring of all forms of non-life investments as well as capital raising.
He had a particular focus as well on the provision of Funds at Lloyd’s (FAL) to Lloyd’s syndicates, from Securis’ ILS investment activities.
More recently, Radford worked in Securis’s life ILS team, offering counterparties investment solutions around capital, financing and risk management.
Radford had previously been a property treaty reinsurance underwriter at Swiss Re.
Eric Paire, Head of London Capital Advisory for Aon, commented, “We are delighted to have Tim join the Capital Advisory team at a time when the insurance and reinsurance markets have heightened focus on optimized capital solutions in the wake of a challenging few years for the industry. Our Lloyd’s capital optimization and FAL provision team continues to deliver steady growth, and this is yet another example of how we are building-out our capital management capabilities on behalf of Lloyd’s syndicates, and insurer and reinsurer clients, which recognize the importance of having access to such holistic solutions.”