Richard Pennay - CEO of Insurance-Linked Securities, Aon Securities

Richard Pennay – CEO of Insurance-Linked Securities, Aon Securities

Richard Pennay as Head of its insurance-linked securities (ILS) team, which is part of the company’s Aon Securities division. In his new role, Pennay will be based in New York and reports to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities.

As Head of the ILS team, Pennay will develop strategies to expand the ILS book of business, building on a record year of catastrophe bond issuance for the sector in 2021 and using his vast experience to bolster the team.

He joins Aon from Merion Square Capital LLC, an ILS fund manager which he co-founded and served as Managing Partner and President.

Pennay also co-founded Rewire Securities LLC, where he was Managing Partner and President. Earlier in his career, Pennay worked at Swiss Re Capital Markets, part of the global reinsurer, as a Director.

Latest reviews by Richard Pennay
Global Reinsurance Capital: New Peak Reached in 2024" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="Global Reinsurance Capital: New Peak Reached in 2024">
Global Reinsurance Capital: New Peak Reached in 2024
Aon estimates that global reinsurer capital rose by $25 bn to a new high of $695 bn over the three months to March 31, 2024
Primary & Secondary Insurance-Linked Securities Market Review" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="Primary & Secondary ILS Market Quarterly Review">
Primary & Secondary ILS Market Quarterly Review
Insurance-Linked Securities Overview. Insurers and reinsurers leveraged alternative capital in 2023 more than any year in the history of the (re)insurance market
2024 Global Reinsurance Renewals. Market Outlook & Dynamics" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="Global Reinsurance Capital & Catastrophe Bond Market Dynamics">
Global Reinsurance Capital & Catastrophe Bond Market Dynamics
Global Reinsurance market conditions since 1/1 have continued to move in favor of reinsurance buyers. Reinsurance renewals at April 1 consolidated the progress made at 1/1
Global Reinsurer Capital in Q1 2023: Reduced Asset Prices Erode Book Values" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="Global Reinsurance Capital in Q1 2023: Reduced Asset Prices Erode Book Values">
Global Reinsurance Capital in Q1 2023: Reduced Asset Prices Erode Book Values
New reinsurance capital formation is limited, and investors remain concerned about the impact of climate change and inflation
ILS, Cat Bond & Post Hurricane Ian Reinsurance Market Update" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="ILS, Cat Bond & Post Hurricane Ian Reinsurance Market Update Q1 2023">
ILS, Cat Bond & Post Hurricane Ian Reinsurance Market Update Q1 2023
The property catastrophe bond market supported new and repeat insurance, reinsurance and government sponsors
2023 Reinsurance Market Dynamics: Lessons of a Hard Market & Future Capital Flows" class="attachment-csco-thumbnail size-csco-thumbnail wp-post-image" alt="2023 Reinsurance Market Dynamics: Lessons of a Hard Market & Future Capital Flows">
2023 Reinsurance Market Dynamics: Lessons of a Hard Market & Future Capital Flows
The most challenging January 1 renewal in a generation as the reinsurance market underwent a fundamental shift in pricing and risk appetite