Aon’s Reinsurance Options division has introduced the hiring of Robert O’Connell as International Cyber Technique and Development Chief, Government Managing Director, a job that can see him tasked with main on delivering worth to cyber shoppers, together with via using cyber insurance-linked securities (ILS).
On this position, O’Connell might be tasked with main Aon’s efforts to ship worth to Reinsurance Options’ cyber shoppers and buying and selling companions via modern threat structuring, together with using cyber disaster bonds and insurance-linked securities (ILS) options.
As well as, offering broader entry to insurance coverage and reinsurance, in addition to the capital markets, plus bespoke portfolio advisory providers, and enhanced threat understanding via analytics, knowledge science and analysis capabilities, are beneath his remit.
O’Connell might be primarily based in New York for Aon, reporting to Randy Stanco, U.S. strategic enterprise chief for Reinsurance Options.
He joins Aon after serving as CEO of Bermuda-based Cyber Re Restricted and Platform Labs, corporations that specialised in cyber underwriting, knowledge science and analytics. Beforehand, O’Connell was the International Cyber Apply Chief at Odyssey Group, earlier than which he spent 6 years at Chubb.
Together with hiring O’Connell, Aon mentioned that Platform Labs will switch possession of its mental property portfolio, that consists of a number of cyber-related knowledge science applied sciences and provisional patent purposes registered with the USA Patent and Trademark Workplace.
O’Connell will work alongside Aon’s cyber analytics management group to combine this new expertise, with a purpose to reinforce Aon’s service capabilities and worth proposition for its shoppers and international buying and selling companions.
Stanco commented on the information, “Rob’s in depth expertise each within the cyber sector and threat switch – from main underwriting to ILS and reinsurance – brings a novel perspective. This can speed up Aon’s cyber product growth and sourcing of capital on this quickly rising line of enterprise. We’re excited to see the worth Rob will ship as he works collaboratively with our international broking and cyber analytics groups to additional improve our capabilities and assist form higher enterprise choices for shoppers.”
Andy Marcell, CEO of Threat Capital at Aon, additionally mentioned, “With our dedication to investing in modern options and high trade expertise, we’re persevering with to assist our shoppers navigate the advanced and evolving cyber threat panorama, delivering the insights and worth they require to deal with probably the most urgent cyber challenges.”
Aon groups had been behind the primary 144A cyber disaster bond, the $75 million Long Walk Reinsurance Ltd. (Series 2024-1) deal issued for sponsor AXIS Capital.
The dealer additionally structured and positioned insurer Chubb’s first cyber disaster bond, the $150 million East Lane Re VII Ltd. (Series 2024-1) deal.
Examine each cyber cat bond transaction issued thus far, together with the primary personal cat bond offers and the newer 144A cyber cat bond issuances, by filtering our Deal Directory by peril to view only cyber cat bond transactions.
