Aon Names Andersen, O’Connor CEOs of Brokerage UnitsNoah Buhayar
Aon Plc, the world’s second-biggest insurance broker by market value, named Eric Andersen head of the Aon Benfield reinsurance operation and Mike O’Connor to lead the Aon Risk Solutions unit.
Both will report to Steve McGill, group president of Aon and chief executive officer of the company’s Risk Solutions segment, the London-based company said in a statement today. Andersen, 48, was most recently CEO of Aon Risk Solutions Americas, while O’Connor, 45, was chief operating officer of the risk business.
CEO Greg Case is shuffling managers as he vies with Marsh & McLennan Cos. and Willis Group Holdings Plc to broker coverage and consult with businesses on risk management. Aon also said Bryon Ehrhart will be CEO of Aon Benfield in the Americas.
The leadership changes are “a natural evolution,” McGill said in the statement. “We must continue to stay ahead of the curve for our clients.”
Andersen is taking a role that was previously split between Dominic Christian and Mike Bungert, said David Prosperi, a spokesman for the company. Some the O’Connor’s new duties were previously handled by McGill.
Bungert will become chairman of the reinsurance unit with a focus on the Americas, and Christian will be executive chairman of Aon Benfield International.
Aon has rallied 36 percent this year, compared with the 20 percent advance in the Standard & Poor’s 500 Index. New York-based Marsh & McLennan is the largest insurance broker by market value.