Aon has announced the appointment of Robert O’Connell (pictured above) as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions division.
Based in New York, O’Connell will report to Randy Stanco, the US strategic business leader for Reinsurance Solutions, according to the company's statement.
In his new role, O’Connell will lead Aon’s efforts to deliver advanced solutions for its cyber clients and trading partners. This includes leveraging insurance-linked securities (ILS) and expanding access to insurance, reinsurance, and capital markets.
He will also oversee portfolio advisory services and initiatives to improve risk analysis through data science, analytics, and research.
O’Connell previously served as CEO of Bermuda-based Cyber Re Limited and Platform Labs, where he specialized in cyber underwriting, data science, and analytics.
Alongside his appointment, Aon disclosed that Platform Labs would transfer its intellectual property portfolio to Aon, including several cyber-related data science technologies and provisional patents registered with the US Patent and Trademark Office.
O’Connell is expected to collaborate with Aon’s cyber analytics team to integrate these assets into its service offerings, the company said.
Stanco emphasized O’Connell’s expertise, stating that his experience across primary underwriting, ILS, and reinsurance.
“This will accelerate Aon’s cyber product development and sourcing of capital in this rapidly growing line of business,” Stanco said. “We are excited to see the value Rob will deliver as he works collaboratively with our global broking and cyber analytics teams to further enhance our capabilities and help shape better business decisions for clients.”
Over the past year and a half, Aon highlighted its advancements in the cyber sector, including issuing the first 144A cyber catastrophe bond for AXIS Capital through Long Walk Reinsurance Ltd. 2024-1.
The company also introduced its Cyber Risk Analyzer platform, a cloud-based tool designed for risk managers and chief information security officers to quantify enterprise risks. Additionally, Aon has bolstered its cyber division with senior hires in key global markets.
Andy Marcell, CEO of Risk Capital at Aon, commented on the company's broader strategy, noting its focus on innovative solutions and top talent.
“With our commitment to investing in innovative solutions and top industry talent, we are continuing to help our clients navigate the complex and evolving cyber risk landscape, delivering the insights and value they require to address the most pressing cyber challenges,” Marcell said.
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