Aon Securities hires JLT Capital Markets co-heads in ILS growth strategy

Aon Securities, the investment banking division of re/insurance broker Aon, has made two new strategic hires to help drive growth and innovation within its capital markets function.

Michael Popkin and Rick Miller join Aon Securities from JLT Capital Markets, where they were co-heads of the unit.

Popkin spent nearly eight years co-leading the capital markets businesses at JLT and Towers Watson, where he and Miller pioneered the development of private placement catastrophe bonds. Previously, Popkin worked in investment banking and energy. He also has buy-side experience as a portfolio manager in structured credit, as well as international experience, having worked in the US, Europe, and Asia.

Miller was co-head of the capital markets business at JLT and its predecessors, Towers Watson and Towers Perrin, for nearly 10 years. He launched and developed the capital markets desk, and, with Popkin developed the private placement technology for the insurance linked securities (ILS) markets. His experience within the ILS community originated at Swiss Re Capital Markets, where he's said to have played a significant role in facilitating secondary market liquidity in broken distressed catastrophe bond positions after the 2008 financial crisis.

Both the executives will start their new roles with immediate effect, reporting to chief executive officer of Aon Securities, Paul Schultz.

“The insurance-linked securities sector continues to be an incredibly dynamic environment, characterized by continued growth in alternative capital and investors and sponsors that are willing to look at new ways to match risk and capital. We welcome Mike & Rick to the team as we work together to drive innovation across geographies and perils in the ILS space in order to ensure its continued growth,” said Schultz.

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