Aon Securities lands exec from ILS fund manager

Aon PLC on Tuesday said it named Merion Square Capital LLC co-founder Richard Pennay head of Aon Securities’ insurance-linked securities team, a newly created position.

Based in New York, Mr. Pennay will report to Paul Schultz, Aon Securities’ CEO.

Mr. Pennay was managing partner and president at ILS fund manager Merion Square.

Mr. Schultz said in the statement there is a “huge opportunity” to drive further ILS growth after the record issuance of 2021.

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