Aon names O’Connell global cyber strategy leader, exec MD Reinsurance Solutions

Aon has named Robert O’Connell as the broker’s new global cyber strategy and growth leader, and executive managing director of its Reinsurance Solutions arm.

O’Connell (pictured) will be based in New York and report to Randy Stanco, Aon’s US strategic business leader for Reinsurance Solutions, the reinsurance broker said.

He will lead Aon’s efforts to deliver value to cyber reinsurance buyers, the broker said, including using insurance-linked securities (ILS) solutions, capital markets, portfolio advisory and analytics services.

Previously, O’Connell served as CEO of Bermuda-based Cyber Re and Platform Labs, specialising in cyber underwriting, data science and analytics.

In conjunction with his appointment at Aon, Platform Labs has agreed to transfer ownership of its advanced intellectual property portfolio, the broker said, “encompassing multiple cyber-related data science technologies and provisional patent applications registered with the US Patent and Trademark Office”.

O’Connell will collaborate closely with Aon’s cyber analytics leadership team to integrate these technologies, Aon said.

Stanco said: “Rob’s extensive experience both in the cyber sector and risk transfer – from primary underwriting to ILS and reinsurance – brings a unique perspective.

“This will accelerate Aon’s cyber product development and sourcing of capital in this rapidly growing line of business,” he continued.

“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,” Stanco added.

Over the past 18 months, Aon achieved several industry milestones in the cyber sector, including the issuance of the first-ever 144A cyber catastrophe bond on behalf of AXIS Capital (Long Walk Reinsurance Ltd. 2024-1).

The firm also launched its cloud-based “Cyber Risk Analyzer” platform, providing enterprise risk quantification tools to chief information security officers and risk managers, as well as adding to its cyber team.

Andy Marcell, CEO of risk capital at Aon, added: “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.”