Aquiline-backed broker Relation beefs up leadership team to drive growth
US broker Relation Insurance Services has hired former Swiss Re executive Chris McKechnie as CFO and ex-Waller Helms managing director Tim Hall as head of M&A as it targets growth both organically and through accretive acquisitions.
Private equity firm Aquiline Capital Partners entered into a definitive agreement to acquire Relation in February. The transaction closed on April 15, 2019.
Relation has also added Jeff Greenberg, chairman and chief executive officer of Aquiline Capital Partners, to its board.
Prior to founding Aquiline in 2005, Greenberg was the chairman and chief executive officer of Marsh & McLennan Companies. Previously, he was chief executive officer of MMC Capital, Marsh & McLennan’s private equity business, and served in numerous executive positions at American International Group (AIG).
McKechnie most recently served as operating partner and advisor to several financial services-focused investors, including Aquiline. He previously worked with Swiss Re Group for more than 17 years, initially as part of the formation of Securitas Capital, a private equity fund focused on investments in the insurance industry. During his tenure, he held several key investment and operating positions, including leading Swiss Re’s Group Strategy, as well as its global M&A/Corporate Development and the Principal Investments Group.
Hall comes to Relation having most recently served as partner and managing director at Waller Helms Advisors, where he advised insurance carrier, insurance distribution, and insurance services clients on mergers, acquisitions, and capital raises. Previously, he was a vice president in Macquarie Capital’s Financial Institutions Group, focusing on executing M&A and financing transactions for clients across the insurance sector.
“With the backing of Aquiline and the addition of three of the insurance industry’s most respected leaders, who bring decades of expertise in successfully growing insurance businesses both organically and inorganically, Relation is poised for significant growth,” said Joe Tatum, chief executive officer of Relation. “As we look to the future and the exciting new chapter, our goal is to build a 100-year-old company by having the best resources, talent, and innovative tools and strategies in our industry.”
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