International insurance brokerage
Aon has appointed Alistair Nicoll as regional director of captive and insurance management, based in Singapore.
In his new role, Nicoll will assist Aon’s Asian clients and aim to reduce volatility and improve performance through the firm’s various risk management services. Formerly the head of Aon’s global risk consulting team in Ireland, Nicoll will relocate from Dublin, bringing 30 years of experience in the re/insurance industry.
“There is a growing interest in captives in Asia Pacific most noticeably in China, Hong Kong, and Australia,” Nicoll said. “We have ongoing assignments across this region and I look forward to working with our network to introduce new risk finance ideas to our clients here.”
Aon’s Asia Market Review 2017 revealed that the Asian captive insurance market is growing at a “steady pace”, with 71 captives in Singapore, 40 in Malaysia’s Labuan financial hub, 18 in Micronesia, and three in Hong Kong.
Most captive insurers write traditional business such as property and liability insurance, but the amount of captives participating in non-traditional lines such as cyber, trade credit, and environmental liability insurance is growing.
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