Aon Announces New Leadership in Casualty Catastrophe Market
Aon plc has announced the appointment of Bob Reville as its new casualty catastrophe market leader amidst a strategic reorganization of the company's UK and Ireland reinsurance team. Reville, previously associated with Moody's and co-founder of the casualty modeling firm Praedicat, will begin his new role on July 15, reporting to Amanda Lyons, the global product leader for reinsurance solutions.
Reville's responsibilities will include managing casualty catastrophe risk, focusing on challenges such as PFAS contamination, social inflation, and latent liability exposures. He aims to establish a casualty catastrophe market parallel to property catastrophes, unlocking new opportunities within insurance and capital markets. Lyons emphasized Reville's expertise in extreme liability risk and advanced analytics as essential for client preparedness and response to major liability events.
Praedicat's data-driven methodologies have produced predictive models for mass torts and product liability risks, which help anticipate and quantify emerging liabilities before they become significant legal issues. This innovative approach leverages scientific research to provide clients with proactive risk management strategies.
As part of the restructuring, Aon has announced new leadership roles for Reinsurance UK and Ireland, effective immediately. Andrew Buckland becomes chief operating officer, Charlie New leads business strategy, Andrew Larkin is tasked with property management, and Richard Evans will handle longtail and structured solutions. They will report to Tom Murray, head of Aon's UK and Ireland reinsurance operations and co-leader of Aon's Global ReSpecialty.
Larkin will continue directing treaty business for the Australia and New Zealand team, channeling it towards London, European, and Bermudian markets. Evans combines structured solutions with longtail portfolio management, including motor and liability lines. New will focus on growth strategies, market positioning enhancement, and driving transformation within the UK and Ireland reinsurance sector.
Murray stated the reorganized leadership team is committed to helping clients navigate volatility and enhance resilience, supporting them in making informed decisions to protect and grow their businesses. Aon's UK chief executive of reinsurance, Andrew Laing, noted that the restructuring improves the team's focus on growth and client service excellence.
Reville recognizes that the casualty catastrophe market for latent risk is less developed than the property segment. His focus is on addressing this gap. As demand for advanced reinsurance solutions in casualty lines rises, driven by PFAS liabilities and social inflation, capital markets are seeking diversification through long-tail, non-correlating risks. As a key player in the London market, Aon continues to facilitate reinsurance business through platforms such as Lloyd's. These new appointments align with a broader reinsurance market transition, marked by declining property catastrophe pricing and persistent high-loss trends in casualty lines due to social inflation and significant environmental liabilities.