Kraft Heinz picks Aon for Irish captive’s investment services

Aon has been selected by food giant Kraft Heinz to provide a “one-stop shop” of investment services to its Ireland-based captive insurer Noble Insurance Company DAC.

Noble – which provides insurance coverage to member firms of the Kraft Heinz network that are domiciled in the EU – will receive strategic advice, fund research and directed execution services from Aon. This will be combined with a specially tailored investment platform provided by its partner Goldman Sachs using the latter’s liquidity solutions portal, Mosaic.

The service – described as a “one-stop shop” for captives – was launched in 2020 and is provided by Aon’s global investment practice, which advises clients with more than $3.1trn in assets, working alongside Aon’s captive & insurance management group.

Tim Currell, partner and head of insurance solutions, Global Investment at Aon, said: “It’s great news that Kraft Heinz has added this new investment service to those that Aon already provides to its Irish captive, Noble.

“We are confident that the various features of the service will enhance its investment arrangements and outcomes, now and into the future.”

He added: “We look forward to building on this foundation – the service already has a strong pipeline of interest both in Ireland and in the other locations where we are planning to make it available in the coming months.”

Michael Siegel, global head of the insurance and liquidity asset management businesses at Goldman Sachs, said: “Liquidity management is critical to the safe operations of all insurance entities and we continue to see significant interest in the array of cash management solutions and technology services offered by the Mosaic portal.

“We look forward to broadening our work with Aon as it continues to provide its expansive array of solutions to the captive and insurance world.”