Artex, one of the largest insurance management firms and a key facilitator in the insurance-linked securities (ILS) and collateralised reinsurance space, has hired one of its co-founders back from competitor Aon, with Peter Mullen set to return in the position of CEO-elect.
Mullen helped to found Artex in 1997 and served as a member of its executive team until he departed for Aon in 2011.
He has held the role of CEO at Aon Captive & Insurance Management for the last seven years but is now set to return to Artex in March 2019 once he has fulfilled his current contractual obligations. Mullen began his career with insurance giant AIG.
David McManus the current President and Chief Executive Officer of Artex is set to continue in both roles until 1st July 2019, after which Mullen will assume both of those executive responsibilities while McManus transitions to become Chairman of the company.
“Succession planning is a core competency of our company. As our executive committee considered the future leadership of Artex, we immediately thought of Peter and the value we could create by reuniting the team that originally founded Artex,” commented David McManus, Artex President & Chief Executive Officer. “We’ve grown significantly over the past several years and are proud to now be the third-largest captive manager, according to Business Insurance. I’m confident Peter’s technical risk understanding, coupled with his creativity and innovation, will continue to drive significant growth for Artex in 2019 and beyond.”
Artex is a subsidiary of insurance and reinsurance brokerage Arthur J. Gallagher & Co. The firm provides clients with a range of alternative risk transfer and insurance management services, ranging from reinsurance transformers, special purpose vehicles for cat bond issuance, to segregated cell structures, captives and other solutions that specifically target the collateralised reinsurance and ILS market.