Former Aon Group president launches specialty risk solutions business

Insurance Business America | May 02, 2019

Former Aon group president Steve McGill has made ties with a world-class team of insurance executives to launch McGill & Partners, a major new specialty risk solutions business. The team has partnered with global private equity firm Warburg Pincus to launch McGill & Partners, which is geared towards strategic risk placement for corporate clients with complex insurance requirements. It will be headquartered in London, UK, and will have a centre of excellence in New York. Steve McGill, formerly Group president of Aon, will lead the business as chief executive officer. He has a highly experienced senior leadership team on his shoulder, including Oliver Corbett, former CFO of Hyperion, Stephen Cross, former Chief Innovation Officer of Aon Risk Solutions, Denise Garland, former COO of Tokio Marine Kiln and a number of others. The leadership team will also include Dominic Casserley and Tim Wright who will join as non-executive directors. “Our ambition is to create a new, best-in class specialty risk solutions business that will bring capital closer to clients and open up an alternative distribution channel for the benefit of clients and carriers,” said McGill. “We launch with a new and highly differentiated value proposition that will deliver an unprecedented level of client transparency and alignment.

Spotlight

Insurance is highly asymmetric. Large players dominate the market and reap benefits from network effects. Customers are in a weak position, don’t understand policies, often feel treated unfairly or even ripped off. Insurance companies have a strong incentive not to pay out claims.

Spotlight

Insurance is highly asymmetric. Large players dominate the market and reap benefits from network effects. Customers are in a weak position, don’t understand policies, often feel treated unfairly or even ripped off. Insurance companies have a strong incentive not to pay out claims.

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