AIM expands global roles for duo of executives

Aon Insurance Managers (AIM), which deals with insurance management, including of commercial, captive and insurance-linked securities (ILS) vehicles, has expanded the roles of two well-known executives to encompass additional global responsibilities.

Steve Britton, based in Bermuda, has now become the global managing director, for ILS and Commercial Management, within the captive, ILS and insurance management focused unit of Aon.

At the same time, Mike Pickard, based in Guernsey, has become global director, for ILS and Commercial Management.

Britton joined Aon Captive and Insurance Management as managing director, Global ILS Management, back in 2015, taking a role in AIM’s Global ILS management operations and joining the company after spending five years with ILS facilitation specialist Horseshoe.

Pickard has been with Aon in Guernsey since 2014 and in that time, as an associate director, has had responsibility for business development and management including across special purpose vehicles, such as cell structures used for ILS or collateralised reinsurance transactions.

For both, the new roles add responsibilities for management of the Aon Insurance Managers commercial portfolio, as well as continuing their focus on ILS business opportunities as well.

The commercial business portfolio includes management of the relationships with 75 stand-alone P&C, Life and Run-Off insurance or reinsurance companies.

The commercial portfolio is spread across offices including the Cayman Islands, Singapore, Malta and Guernsey, but more than half of the portfolio is located in Bermuda, with roughly half of those being Life companies, the rest largely P&C and run-off.

The Aon Insurance Managers team also manages commercial reinsurance vehicles established by ILS fund investment managers, including such structures as, AIG’s unit AlphaCat’s OmegaCat Re, Credit Suisse Insurance-Linked Strategies Bernina Re, Lancashire Capital Management’s Kinesis Re, PIMCO’s Newport Re, and Securis Investment Partners Odin Re.

The pair and their respective team in Bermuda, Guernsey and other insurance hubs, also manage a wide-range of structures from catastrophe bonds, to segregated and protected cell vehicles, special purpose insurers (SPI’s), and Aon’s own transformer and fronting structures under the White Rock brand.