Aon merges global MGA and portfolio broking units in growth strategy

Re/insurance broker Aon is merging its global managing general agents (MGA) & programme solutions and global portfolio broking teams into a single unit within its UK reinsurance solutions business, in a move it hopes will enhance its growth opportunities.

Led by Miles Shephard as executive chairman and Andrew Matson as chief executive officer, the new unit will provide global market knowledge and execution, and a capability to provide solutions to a wide range of specific client challenges.

Aon said the MGA model continues to represent an attractive and flexible mechanism for linking risk to capital. The new team will create increased growth opportunities for reinsurance carriers to provide layers of capacity that complement MGA structures.

The global MGA & portfolio solutions team has been formed to establish a centre of excellence for delegated authority and alternative portfolio expertise, including binding authorities, line slips and consortium arrangements.

The team’s strategy will be to harness the power of Aon United to bring the best of Aon to drive innovation and grow this client segment. This includes teams from across Aon and bespoke MGA offerings from Aon Inpoint, Capital Advisory, analytics and property modelling/casualty actuarial capabilities. The team will work closely with the US MGA / Program Facilities Practice Group, which will continue to lead the US development of this vibrant market sector.

Bob Bisset, head of UK strategic growth, said: “The MGA segment represents a huge growth opportunity, both for our firm and the industry in general. The creation of the Global MGA & Portfolio Solutions team will enable us to bring a greater range of solutions to clients through a dedicated unit that houses decades of experience and successful transactions in this sector.”