Aon Plc has rolled out a new platform in London called Alternative Distribution, which is aimed at providing clients with access to risk capital via fronting.
Effective in January 2021, QBE and Mitsui Sumitomo Insurance Group alumnus Graeme Rayner is coming onboard Aon to serve as Alternative Distribution chief executive. He will make the switch from Pioneer Underwriters, where Rayner was group director of underwriting.
Earlier this year, Pioneer agreed to transfer not only its ongoing underwriting portfolio but also its underwriting and support staff to K2 Insurance Services LLC for an undisclosed sum.
“We are immensely fortunate to have someone of Graeme’s proven calibre joining the firm at such a moment of opportunity for the entrepreneurial underwriting model in London,” commented Nick Frankland, UK CEO of Reinsurance Solutions at Aon.
“His appointment and the creation of the Alternative Distribution platform reflect Aon’s commitment to meeting client needs and building a market-leading proposition in the MGA (managing general agent) and third-party underwriting service sector.”
According to Frankland, the goal is to facilitate and improve capital deployment at a time when the market is undergoing significant challenges and change.