Aon has appointed Mike Reid as EMEA chief executive of facultative reinsurance, effective 1 July 2026. Reid is based in London and succeeds Nick Fraccalvieri, who led the EMEA business for three years.
Fraccalvieri was named global chief executive of facultative reinsurance for Aon in March. Reid will report to Fraccalvieri and Tomas Novotny, EMEA chief executive and international chairman for reinsurance, as part of the global facultative leadership team.
Reid joins Aon from Sompo, where he most recently served as chief underwriting officer for UK commercial lines and head of casualty. He joined Sompo International in November 2021 as executive vice president and head of casualty for its international business. He previously held senior roles at Willis, Ace (now Chubb), Brit Insurance and QBE.
In September 2023, Sompo named Reid to lead its UK Commercial Lines division as part of a restructured leadership team. He reported to Bob Thaker, the unit's chief executive at the time. He went on to take a broader property and casualty remit covering the insurer's corporate, middle market and SME segments.
Sompo's UK leadership has changed since Reid's departure, with Thaker leaving the insurer later this year. Sarah Stanford has been named chief executive of Sompo UK following the firm's US$3.5 billion acquisition of Aspen. Her role overlaps with Reid's former remit.
The leadership change extends beyond the UK chief executive role. Sompo has also named a new chief underwriting officer and head of strategy for its International Markets business. The division spans the UK, Asia-Pacific, Continental Europe, and Brazil, and the appointment is part of a broader restructuring tied to the Aspen integration.
During his time at Sompo, Reid spoke publicly about the insurer's UK growth strategy. He described the business as being in "growth mode" and pointed to plans for new products and broker relationships. He has nearly 30 years of experience in the insurance industry, across broking and underwriting in both company and Lloyd's markets.
Novotny said Aon places emphasis on hiring talent that differentiates the firm and delivers client value. Reid was an example of that approach, he added.
Reid said the EMEA facultative role was an opportunity to apply his experience and relationships to client solutions. "I consider it a privilege to be joining such an established and successful team," he said.
The appointment is one of several recent leadership moves within Aon's facultative reinsurance business. Aon named new managing directors for facultative and treaty reinsurance across the Middle East, North Africa, and Turkey within the past week. The moves mark continued restructuring of the broker's regional leadership.
Aon has also expanded its facultative team across Germany, Austria, and Switzerland, pointing to favourable market conditions. Risk-adjusted facultative reinsurance pricing fell by 15% to 20% globally at the January 2026 renewals, with European reductions of 10% to 20%.
Aon's facultative reinsurance business provides risk transfer solutions on individual risks and complements treaty reinsurance programmes. The appointment follows Fraccalvieri's move into the global facultative leadership role in March.
