Aon Announces Formation of Aon Re Global

Chicago-based Aon Corporation announced the formation of Aon Re Global, A reinsurance brokerage firm.

Aon Re Global will effectively combine all of Aon’s reinsurance operations around the world into a single, seamless, global organization, organized around its clients and focused on providing world-class products and services wherever and whenever clients require them. Aon Re Global will have offices in more than 30 countries and will bring best-in-class expertise to serve clients of all sizes from multi-billion dollar global enterprises to local companies.

Aon has named a new management team to lead Aon Re Global. Paul Davies, currently chairman of Aon Re Worldwide, has been named senior chairman of Aon Re Global. Dennis Mahoney has been appointed executive chairman of Aon Re Global. Michael Bungert has been appointed president, Aon Re Global and chief executive officer of Aon Re Americas.

In addition, as announced separately, Clement Booth will be joining Aon as chief executive officer, Aon Re International and will also act as chief administrative officer for Aon Re Global. Ross McKenzie, the current head of Aon Re International, will become vice chairman of Aon Re Americas, relocating to Chicago. Colin Bryan remains head of Aon Re UK and becomes vice chairman, Aon Re International.

“This team, under the leadership of Dennis Mahoney and Mike Bungert, uniquely positions us to anticipate the needs of our clients and to continue to build on our role as the world’s largest – and best – reinsurance broker,” said Patrick G. Ryan, chairman and chief executive officer, Aon Corporation.

Michael D. O’Halleran, president and chief operating officer of Aon Corporation continued, “The world of risk is becoming ever more complex. Our clients and markets are quite rightly demanding ever more sophisticated services that must be consistently delivered where they operate. The tremendous leadership demonstrated by Paul Davies as chairman of Aon Re Worldwide over the past six years has given us a great foundation upon which we can build, transforming our operations from a global practice group to a truly singular global entity, able to provide seamless solutions across all borders to a client base with increasingly global needs.”

Additionally, Aon Re Global has named its Global Executive Board, composed of Messrs. Mahoney, Bungert, Davies, Booth, Bryan, McKenzie and O’Halleran who will be joined by Bryon Ehrhart (United States), Paul Markey (Bermuda), and Olivier du Passage (Europe).