The newly formed group will support and grow Aon’s proprietary network of Managing General Agents (MGAs) and Managing General Underwriters (MGUs) to better deliver innovative products, streamline transaction processes and provide access to new and diverse sources of risk capital. Hennessy will work with carriers as well as broking leaders and reinsurance colleagues around the world to further develop and execute the global strategy for MGAs and MGUs. He brings more than 25 years of global insurance market experience and most recently served as President of Aon Broking.
“Karl’s global expertise working with carriers to bring innovative solutions to the marketplace makes him extremely qualified to lead our new group,” said Michael O’Connor, co-President of Aon plc. “There is great potential to grow our MGA and MGU network, offering new solutions to our clients, and Karl is uniquely poised to help Aon realize this opportunity.”
Hennessy will continue to be based in London and will report to Michael O’Connor. In addition, Andy Jenn, currently COO of Aon Broking, will transition to COO for the Carrier Solutions group.
Aon announced in May 2018 that it will retire the business unit brands of Aon Benfield and Aon Risk Solutions, which follows the retirement of the Aon Hewitt business unit brand in 2017. This move was designed to increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients. Aon has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
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