Aon , a UK-based professional services firm, has merged its global portfolio broking team with its managing general agent (MGA) and programme solutions teams.
The London-headquartered firm believes that the combined division will strengthen its growth prospects in the country.
Miles Shephard will serve as executive chairman of the combined unit, while Andrew Matson has been named as its CEO. They will be responsible for managing the Global MGA and Portfolio Solutions unit.
The combined unit will deliver global market knowledge and execution, and a capability to provide solutions to various types of specific client challenges.
Aon believes that the MGA model continues to represent an attractive and flexible mechanism for linking risk to capital.
Aon head of UK strategic growth said: “The creation of the Global MGA & Portfolio Solutions team will enable us to bring a greater range of solutions to clients through a dedicated unit that houses decades of experience and successful transactions in this sector.”
Last month, Aon merged its construction & engineering and inland marine teams into a single dedicated global unit within its reinsurance solutions operation.
During the same month, Aon announced that it has started using Groundspeed’s artificial insurance (AI) technology to extract critical data insights from its unstructured documents.