Aon Benfield executive chairman to retire after 37 years

Aon Benfield, the global reinsurance broker has announced that its executive chairman Michael O’Halleran is set to retire from the business after 37 years of service.

O’Halleran will remain in his current role until May 1, and will then offer strategic counsel to the firm on an ongoing basis, the company said in a statement.

O’Halleran most recently has served as the executive chairman of Aon Benfield and senior executive vice president of Aon. He is credited for his founding role as leader of Aon Re at its inception in 1987, to his strategic leadership of the Benfield acquisition in 2008.

"Mike leaves a lasting legacy as a founder, business builder, client advisor and mentor at Aon," said Greg Case, president and CEO of Aon. "He helped the firm and its clients navigate through tough market cycles and catastrophic events, while constantly keeping a keen eye on opportunities for growth and expansion. The firm is truly indebted to him for the thoughtful and collegial tone he always set and will continue to feel that impact in the years ahead as the generation of leaders he helped develop, guide the firm forward."

O’Halleran commented: "It has been an absolute privilege to serve Aon over the last 37 years. At every turn, I have always been amazed at the resilience of our clients, markets and communities as we have navigated natural catastrophes, adapted to the rise of alternative capital and kept pace with the demands of our evolving industry.

"We have withstood these challenges and emerged stronger, while helping to raise awareness of new global exposures in the hope that future generations will be better prepared to deal with these emerging risks. I would to like thank Aon clients and colleagues for the many incredible experiences and long standing friendships that I have been privileged to share over the course of my career."

Today’s top stories

Cyclone Debbie insured losses reach A$306m so far: ICA

RMS appoints senior vice president from AXIS Capital

Insurance distributors seek growth via M&A: Report

UPC Insurance completes merger with American Coastal

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.