Aon makes Andy Marcell CEO of Risk Capital
Broking giant Aon is doubling-down on the application of reinsurance risk management techniques for its corporate client base, and as this becomes a key strategic angle for the company it has made Andy Marcell the CEO of Risk Capital, to oversee reinsurance, commercial risk and advanced analytics capabilities at the company.
Marcell was most recently the CEO of Aon’s Reinsurance Solutions, but in a further simplification of the leadership structure, Aon has now split down the lines of Risk Capital and Human Capital, with Marcell taking charge of the former.
Aon calls the move the latest step in a “decade-plus strategy”, building on momentum generated by moving to a single leadership team, single brand, and single P&L.
The company also said this further accelerates its Aon United strategy, placing client need at the heart of its innovation strategy.
It also reflects growing client demand for more integrated solutions to top priorities like climate change, Aon explained.
In his new role as CEO of Risk Capital, Marcell will report to Aon’s President, Eric Andersen.
At the same time, Lambros Lambrou has been named CEO of Human Capital, covering Health, Wealth and Talent segments, also reporting to Andersen.
“Our firm is continuously evolving to better serve clients, and this announcement is further proof of the progress we’ve made on our Aon United journey,” Aon’s CEO, Greg Case said. “Lambros and Andy are exceptional leaders who always put the client at the center of our approach and work across the firm to deliver the best Aon has to offer. Our ability to rotate them into broader, more integrated leadership roles will create exciting new opportunities for colleagues and unlock new forms of value for clients.”
Marcell will have responsibility for a unified Risk Capital capability and the company said this is as, “Aon expands the application of traditional reinsurance solutions to its corporate client base and increases investment in the predictive data modeling required to address fast-growing areas of client need like climate change, intellectual property, cyber terrorism and supply chain interruption.”
“Andy is a proven performer who has reinforced Aon’s leadership position in the reinsurance space, while also pioneering the application of reinsurance risk management strategies to our commercial client base,” Andersen added. “This move is intended to build on that momentum and bring together a unified risk analytics team to create new market capacity for long-tail risks like climate and cyber.”
Marcell will be tasked with overseeing the creation of an advanced risk analytics team at Aon, bringing together data scientists and technologists from across Commercial Risk and Reinsurance Solutions with a goal of accelerating the delivery of new solutions.
Marcell stated, “I’m excited by the immediate value and future potential of our combined Risk Capital team. We’re dealing with a new era of volatility and clients are looking to us to help them make better decisions that protect and grow their business. Integrated oversight of our Commercial Risk and Reinsurance Solution Lines will further strengthen our data and analytics capabilities and help us innovate faster to create enhanced solutions for our clients.”
Both Marcell and Lambrou start in the new roles immediately, continuing in the current roles too until replacements are identified under the new structure, Aon said.
Marcell continues to have oversight of the insurance-linked securities (ILS) and capital markets focused Aon Securities unit, as that falls under Aon’s Reinsurance Solutions.
It also seems this new structure could better support the integration of risk capital techniques, such as insurance-linked securities (ILS), making these options and alternative sources of insurance or reinsurance capital even more readily available to Aon’s corporate client base.
