Global broker Aon has formed a new team in its Reinsurance Solutions business that will focus on building global investor relationships in order to identify additional sources of capacity to clients.
The new Capital Partners team will initially bring third-party property catastrophe capacity to clients in London, Bermuda, Europe and Asia. The team will then expand its capabilities into other business lines and regions, Aon said.
Capital Partners will work with its Aon Securities and Capital Advisory teams to address “clients’ holistic business requirements,” the announcement said.
In addition to his existing retrocessional brokerage role, Richard Wheeler will become head of Capital Partners. He will be supported by Benfield Vice President Anshuman Srivastava as deputy head. Both will report to Nick Frankland, UK CEO of Reinsurance Solutions, and Paul Schultz, CEO of Aon Securities.
Frankland said Capital Partners adds “another dimension” to Aon’s investor access alongside Aon Securities’ insurance-linked securities capability, and Capital Advisory’s funds at Lloyd’s reinsurance capital raising expertise.
“Sourcing capital in its various forms is complex and challenging, particularly in the evolving economic environment,” said Schultz. He said Capital Partners will reach a wide, diversified, global investor base to attract all forms of third-party and alternative capital into the reinsurance sector.
*This story ran previously in our sister publication Insurance Journal.