Aon makes executive moves

Aon PLC Thursday named Paul Schultz as global vice chair of Reinsurance Solutions.

Based in Chicago, Mr. Schultz, formerly CEO of Aon Securities, will work with Andy Marcell, CEO of Risk Capital and Reinsurance Solutions at Aon, to augment capacity including the growth of third-party capital sources, Aon said in a statement.

Richard Pennay, New York-based CEO of insurance-linked securities for Aon Securities, will succeed Mr. Schultz as CEO of that unit, reporting to Mr. Marcell, the statement said.