Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced the launch of Alternative Distribution – a London platform that matches insurance underwriting expertise with capacity provision through fronting, Managing General Agent / Managing General Underwriter and captive solutions. The Alternative Distribution platform will encompass the previous Global MGA & Portfolio Solutions businesses, and will be led by Graeme Rayner, who will join Aon on January 1, 2021, as CEO of Alternative Distribution, reporting to Nick Frankland, UK CEO of Aon’s Reinsurance Solutions.
Graeme brings more than 30 years’ multi-class underwriting experience across Lloyd’s Syndicate, Company and MGA platforms. Prior to joining Aon, he was Group Director of Underwriting & Active Underwriter at Pioneer Underwriters Ltd., and previously Chief Underwriting Officer & Active Underwriter at Mitsui Sumitomo Underwriting Ltd. Graeme also served as Managing Director of Commercial Insurance at QBE Ins (Europe) Ltd., and has held senior positions at Zurich Re (UK) Ltd and Johnson and Higgins Insurance Brokers.
Nick Frankland said: “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. 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 and third-party underwriting service sector. Through this initiative, Aon aims to facilitate and improve capital deployment in this area, at a time when the market is undergoing significant challenges and change that will create opportunities for appropriately aligned underwriting structures and organisations.”
Working with fronting structures and accessing capabilities from across the firm, Alternative Distribution will make a broad range of risk capital available to Aon’s clients. The platform will also provide the necessary supporting infrastructure, licensing and servicing resources.