LONDON, 20 October 2008 - Aon Re Global Fac (ARGF), the facultative reinsurance arm of the world’s largest reinsurance broker, Aon Re Global, has launched an Alternative Solutions unit.
The new operation has been established to provide access to non-standard facultative reinsurance products across the breadth of ARGF's portfolio.
Headed by Paul Cousins, the creation of the Alternative Solutions unit augments ARGF's client offering using the integrated capabilities of Aon Re Global and brings a seamlessly coordinated holistic approach to clients.
Paul Cousins comments: “The primary aims of the new unit are to ensure that our facultative clients have a focal point through which to access ARGF's specialist capabilities, including captive and protected cell company reinsurance, alternative/finite reinsurance structures, reflector covers, credit enhancement, residual value insurance, advance payment guarantees and facilities and binders.”
Elliot Richardson, CEO of Aon Re Global Fac, comments: "One of ARGF's critical roles is to challenge the effectiveness of our solutions to ensure validity and relevance of our products to our clients. The creation of our Alternative Solutions team will substantially enhance our offering."
Paul Cousins has more than thirty years experience of underwriting and broking treaty and facultative reinsurance. Prior to joining Aon, Paul worked with various brokerages in the London market and held underwriting positions at Trenwick, GE and NRG London Re.
Photo Link: Photo of Paul Cousins
Aon Re Global Fac
Aon Re Global Fac is the world's leading facultative reinsurance intermediary, operating as one global team that provides access to all worldwide reinsurance markets. Our unique approach yields creative and customized facultative solutions that respond to individual risks or portfolios of risk for all property and casualty products in both the commercial and personal lines areas
Aon Re Global
Aon Re Global provides clients with integrated capital solutions and services through a world-class network of experts in more than 35 countries. Clients are better able to differentiate and meet their business objectives with Aon Re Global's best-in-class treaty and facultative reinsurance placement services, capital markets expertise, and relevant analytics and technical expertise, including catastrophe management, actuarial and rating agency counsel. Aon Re Global was named best reinsurance broker in 2008, 2007 and 2006 by readers of Business Insurance.
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world's best broker by Euromoney magazine's 2008 Insurance Survey. In 2008, Aon ranked highest on the Business Insurance ranking of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues. Aon also was ranked by A.M. Best as the number one insurance broker based on brokerage revenues in 2007 and 2008, and was voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
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