London-based insurance broker Aon has created a new Carrier Solutions group to support and grow its proprietary network of managing general agents (MGAs) and managing general underwriters (MGUs).
Karl Hennessy has been named as the CEO of newly formed group. In his new role, Hennessy will work with carriers, broking leaders and reinsurance professionals across the globe to further develop and implement the global strategy for MGAs and MGUs.
Additionally, he will help MGAs and MGUs to provide innovative products, streamline transaction processes and offer access to new and diverse sources of risk capital.
Prior to this role, Hennessy served as president of Aon Broking. He has more than 25 years of global insurance market experience.
Based in London, Hennessy will report to Michael O’Connor, co-president of Aon. Additionally, Andy Jenn, present COO of Aon Broking, will become COO of the Carrier Solutions group.
O’Connor said: “Karl’s global expertise working with carriers to bring innovative solutions to the marketplace makes him extremely qualified to lead our new group.
“There is great potential to grow our MGA and MGU network, offering new solutions to our clients, and Karl is uniquely poised to help Aon realize this opportunity.”
Aon offers a range of risk, retirement and health solutions in 120 countries.