Capturing cyber risks
Peter Mullen, the Bermuda-based chief executive officer of Aon Captive and Insurance Management, is stepping down from his position.
According to the company Mullen’s stepping down is effective immediately.
Aon added that Mullen will be leaving the firm in due course to pursue new opportunities after seven years at the company.
“We thank him for his contributions to our firm and wish him well,” said Aon in a statement. “Rory Moloney, chief executive officer of Aon Global Risk Consulting, will oversee the captive business until a new captives chief executive officer is confirmed.”
The company did not say how long it would take to find a permanent replacement.
Mullen was appointed to the position in April 2011. He was previously at Artex Risk Solutions and has more than 30 years experience in insurance management and underwriting.
In the wake of the Aon announcement Artex revealed that Mullen was leaving to rejoin the company.
According to Artex Mullen is to be appointed chief executive officer-elect, starting in March 2019 once he has fulfilled his contractual obligations to Aon Captive & Insurance Management.
Mullen helped found Artex in 1997 and was a member of its executive team until his departure for Aon. David McManus will continue to lead Artex as president and chief executive officer until 1st July, 2019. At that time, Mullen will assume those executive responsibilities while McManus moves into the role of chairman.
“Succession planning is a core competency of our company. As our executive committee considered the future leadership of Artex, we immediately thought of Peter and the value we could create by reuniting the team that originally founded Artex,” said McManus. “We’ve grown significantly over the past several years and are proud to now be the third-largest captive manager, according to Business Insurance. I'm confident Peter’s technical risk understanding, coupled with his creativity and innovation, will continue to drive significant growth for Artex in 2019 and beyond.”
Aon captives, Peter Mullen, departure, executive, Bermuda, management
Capturing cyber risks