Two senior London market appointments this week underscore how closely capital strategy and reinsurance structuring are converging across the specialty (re)insurance sector, as both Aon and QBE moved to fill newly created or vacated roles overseeing how their businesses connect with capital providers and reinsurers.
Aon has named David Crofts (pictured, left) as global head of capital solutions for financial sponsors, effective August 1, 2026. Crofts will report to Joe Peiser, CEO of Risk Capital for Aon.
The appointment reflects Aon's continued focus on helping financial sponsor clients access and evaluate investment opportunities across the insurance and reinsurance ecosystem. In the role, Crofts will work with financial sponsors, sovereign wealth funds, hedge funds and other capital providers seeking access to insurance-related opportunities.
Crofts rejoined Aon in 2025 as head of financial sponsors for EMEA, returning to the firm after nearly six years, having previously served as a managing director of Aon's Global Risk Consulting business. Between his two tenures at Aon, he spent almost eight years at Mubadala Investment Company as executive director, enterprise risk management.
Commenting on his new role, Crofts said Aon is seeing significant engagement from investors seeking exposure to opportunities across the insurance ecosystem.
"Aon's breadth of capabilities across Risk Capital enables our firm to bring a differentiated perspective and set of solutions to these clients," he said. "I look forward to working with clients and colleagues across Aon to help connect investors with opportunities across the insurance and reinsurance markets and to support informed investment decision-making."
QBE has appointed Alistair Nappin (pictured, right) as head of outward reinsurance for its international division, a London-based role in which he will be responsible for shaping and delivering the insurer's reinsurance strategy across the UK, Europe and Asia.
Nappin will report to Stephanie Cryer, chief underwriting officer, QBE International, and joins early next year, subject to regulatory checks. He joins from Munich Re, where he currently serves as head of ceded reinsurance and chief underwriting officer of underwriting strategy for its global specialty insurance division. He brings nearly 20 years of insurance experience to the role.
The appointment comes as cedants like QBE find themselves in an increasingly favourable position at the negotiating table. Reinsurance capital reached record levels through 2025, with Guy Carpenter estimating global reinsurance capital at around $660 billion, and that abundance of capacity has driven sustained rate reductions through 2026. Property catastrophe reinsurance rates fell a further 16% at the July 2026 midyear renewal, according to Gallagher Re, accelerating from a 12% decline at the January 1 renewal, with UK programmes among those recording the steepest reductions of 15% to 20% at the start of the year, according to Howden Re.
Cryer said she was delighted to welcome Nappin to QBE.
"His deep experience and expertise will be a tremendous asset to our team, and I look forward to the contribution he will make to our continued success," she said.
