Risk trading insurtech AkinovA hires Mahoney to support development

AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has hired former Aon Global and RFIB chair Dennis Mahoney.

His primary focus will be to assist in the development of the AkinovA ecosystem of re/insurance and broker participants, as well the introduction of new products.

Mahoney is a 50 year re/insurance broking industry veteran, having held various senior roles at Aon including chairman of Aon Global, RFIB and at Ironshore as an independent director. He served as chairman of W.I.N. (World Insurance Network), president of the Insurance Institute of London and Troika for the UK government which was set up in the aftermath of the 9/11 New York terror attack to keep airports operational and airlines flying with a partnership between insurance and airlines, and backstop provided by the government. He also served for many years at ACORD, the insurance industry standards body.

AkinovA highlighted that the risk landscape has changed and the physical assets are no longer the principal exposure faced by the vast majority of businesses today.

Henri Winand, AkinovA CEO, said: “We have the right proposition at the right time. AkinovA's approach to act a one-stop-shop with integrated chat, document sharing, clearing services, price discovery, market animation analytics and third party actuarial data, news and analytics is truly powerful."

Mahoney added: “Henri and I share the vision of creating the same deep and liquid market for re/insurance risk as those enjoyed by clients with currency, commodity and interest rate risks. We refer to this as the 4th ‘volatility’ facing commercial buyers and their executives.”

He noted: "I have been convinced of the AkinovA vision since I first met Henri, at the outset of the AkinovA initiative. I am excited and privileged to have been invited to join the considerable bench strength that Henri has assembled."