Aon hires Will Allen to Reinsurance Capital Advisory team in London

Broking giant Aon has announced the hire of Will Allen, formerly of investment bank KBW and one of the co-founders of London Innovation Underwriters, to its Reinsurance Capital Advisory team where part of his role will involve raising capital to support Funds at Lloyd’s (FAL) and London Bridge ILS structures.

Allen is most recently known for his efforts to get a London-based insurance-linked investment company off the ground, having launched London Innovation Underwriters with a goal to raise $1 billion for deployment into Lloyd’s through a listed company structure and using the London Bridge ILS platform.

That initiative failed to get the necessary support it required, unfortunately, but Allen is now back in a role that will see him assisting Aon’s clients to access efficient capital to support their London market underwriting.

Allen has been named executive managing director of Capital Advisory within Aon’s Reinsurance Solutions.

In the role he will report to Kelly Superczynski, Aon’s global head of Capital Advisory.

Allen will work to source capital from global organisations, including but not limited to institutional funds and family offices, to support Lloyd’s of London programmes, including via the Funds at Lloyd’s (FAL) structure and also its insurance-linked securities (ILS) vehicle London Bridge.

On top of that, Allen will be tasked with supporting capital raising for risk transfer programmes involving the London Market and Aon’s broader reinsurance client base.

Allen will work alongside and with the expertise and capabilities from across Aon, such as its Strategy and Technology Group, Analytics team and Aon Securities, so that comprehensive solutions can be developed for clients.

In addition he will work with Aon’s Lloyd’s-focused specialist teams, such as for Funds at Lloyd’s structures, to deliver globally sourced capital to support risk transfer and capital optimisation programmes in the marketplace.

Superczynski commented on the hire, “Will’s appointment marks another step in Aon’s investment in its Capital Advisory capability and highlights the importance of the Lloyd’s market as a London home for global capital.

“Will’s extensive entrepreneurial experience in attracting capital to support complex insurance transactions will be important to the ongoing growth of Capital Advisory, as we deliver an increasing number of groundbreaking deals that bring the capacity and innovation necessary to enable better business decisions for clients.”