Aon taps Aspen and Securis talent for reinsurance solutions

Re/insurance broker Aon has strengthened its reinsurance solutions units in London and Bermuda by hiring two new leaders from Aspen and Securis.

Marcus Foley will join the Bermuda operations as head of capital management, while Tim Radford will work in its London capital advisory team within reinsurance solutions.

Foley comes from specialty re/insurer Aspen, where he had held several positions, most recently that of group chief capital management and strategy officer. During his 15-year career, he also worked as a capital modeler at EMB Consultancy.

In his new role, Foley will report to Tony Fox, chairman and chief executive officer, Bermuda, and Eric Paire, head of London capital advisory of reinsurance solutions.

Radford joins Aon from insurance-linked securities (ILS) fund manager Securis Investment Partners, where he was involved in the origination, analysis and structuring of all forms of non-life investments as well as capital raising – focusing in particular on the provision of FAL to Lloyd’s syndicates. He most recently worked within Securis’s life team, offering counterparties investment solutions around capital, financing and risk management. During his career, Radford was also a property treaty underwriter at reinsurer Swiss Re.

Radford will support the team’s capabilities in Lloyd’s capital optimisation and funds at Lloyd’s (FAL) provision, and will report to James Mackay, head of Lloyd’s relationships within London capital advisory.

“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,” said Paire.

He added: “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 optimisation 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 recognise the importance of having access to such holistic solutions.”

Commenting on Foley’s appointment, Fox said: “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.”

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