Aon’s White Rock gets new leaders in its 25th year
Global insurance and reinsurance broker and advisory Aon has made a number of senior changes within the leadership for its White Rock transformer, fronting and insurance management vehicle.
The White Rock platform is now twenty-five years old and has carved out a leading position as a serviced vehicle for use in insurance and reinsurance arrangements.
Having begun as a largely captive focused structure, the White Rock platform has expanded and now includes vehicles domiciled in Bermuda, District of Columbia, Gibraltar, Guernsey, Isle of Man, Malta and Vermont.
The White Rock Group offers clients a broad range of insurance and reinsurance solutions, using Protected Cell, Incorporated Cell and Segregated Account facilities.
As such, it’s become a key facilitator for insurance-linked securities (ILS) transactions as well.
Now in its 25th year, the White Rock platform is an area targeted for growth within the Aon global businesses, as the broker sees the offering as increasingly relevant to a growing pool of clients.
Recently, Aon Insurance Managers (AIM), the unit that deals with insurance management, including commercial, captive and insurance-linked securities (ILS) vehicles, had expanded the roles of Steve Britton and Mike Pickard.
Britton, based in Bermuda, added the company’s Commercial Management segment to his existing Global Managing Director for ILS Management role, within the captive, ILS and insurance management focused unit of Aon, while Pickard, based in Guernsey, became Global Director, for ILS and Commercial Management.
Now, the company has made other senior appointments, as it looks to build on the activities within Aon Insurance Managers and the White Rock platform.
Aon has announced a new global team to lead White Rock going forward and spoke with Artemis about what these changes mean.
David Hogg, formerly Managing Director of Aon’s operations in Isle of Man, will assume overall responsibility as Strategy and Delivery Leader for White Rock.
Hogg will be supported by Stuart Brown, who moves from his position as Director and Finance and Operations Leader of Aon’s operations in Guernsey to assume a new role of Operations Leader, White Rock.
Ciaran McCabe, formerly Director and Insurance Solutions leader for Aon’s Bermuda operations becomes the Underwriting Leader for White Rock.
Each have deep knowledge and experience of a wide-range of client solutions and White Rock’s offering and they will be tasked with helping to lead the next phase of White Rock’s development.
Britton, Global Managing Director, for ILS and Commercial Management at Aon Insurance Managers, commented on the task of developing the White Rock proposition twenty-five years in.
“White Rock means best in class ILS transformer services and provides our valued clients the gateway to access Aon United services across the globe. As such, White Rock is a key player in the ILS market providing turnkey transformer services which naturally lead to our clients growing up into SPIs, CIs, and commercial licensed and rated carriers,” Britton explained.
Adding that, “It’s our Flagship market facilitator, the first ever and we’re very proud 25 years strong and still accelerating.
“In addition to traditional ILS transformer services to ILS funds, White Rock provides market access and solutions including weather and parametric solutions, longevity pension swaps, ILS collateral protection as well as transformation of retrocession, cyber, ESG and sports contingency risks. And, David, Stuart and Ciaran, along with our underlying White Rock team members, are the very best.
“We’re excited to see where we can take White Rock next for our customers.”
David Hogg, now Strategy and Delivery Leader for White Rock, added, “White Rock Guernsey was established in Guernsey as the first of its kind. Since then, the White Rock Global Group of companies has grown into one of the most successful PCC structures in the world, providing out clients with innovative solutions for risk retention, reinsurance market access and supporting award winning ILS and reinsurance transactions, including Collateralised Re, Longevity Swaps and the recent Lloyds of London central fund deal.
“I’m excited to move into such an exciting part of the Aon business and look forward to working with the other members of the leadership team to build on the White Rock success story of the last 25 years.”
Mike Pickard, Director, Global ILS and Commercial Management, also said, “When I first joined Aon over 8 years ago my first role was managing White Rock’s Guernsey vehicles, over the years I have taken great pride in seeing it evolve to be trusted by some of the World’s largest financial institutions culminating in arguably its finest moment, facilitating the Lloyds Central Fund deal with JP Morgan. I look forward to White Rock continuing to innovate and provide award winning solutions to Aon’s clients all around the world.”
