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Aon Benfield said Tuesday that veteran executive Michael O’Halleran, 66, will retire as of May 1 after 37 years with the reinsurance broker.
Mr. O’Halleran, who will offer ongoing strategic counsel to the firm, was the leader of Aon Re at its inception in 1987 and led the company during its acquisition of Benfield in 2008. He was most recently executive chairman of Aon Benfield and senior executive vice president of Aon P.L.C.
“Mike leaves a lasting legacy as a founder, business builder, client adviser and mentor at Aon,” Greg Case, president and CEO of Aon, said in a statement. “He helped the firm and its clients navigate through tough market cycles and catastrophic events, while constantly keeping a keen eye on opportunities for growth and expansion. The firm is truly indebted to him for the thoughtful and collegial tone he always set and will continue to feel that impact in the years ahead as the generation of leaders he helped develop, guide the firm forward.”
Mr. O’Halleran said in a statement “it has been an absolute privilege to serve Aon P.L.C. over the last 37 years.”
“At every turn,” he continued, “I have always been amazed at the resilience of our clients, markets and communities as we have navigated natural catastrophes, adapted to the rise of alternative capital and kept pace with the demands of our evolving industry…I would to like thank Aon clients and colleagues for the many incredible experiences and long standing friendships that I have been privileged to share over the course of my career.”
Steve McGill, group president of Aon P.L.C., is leaving the brokerage, Aon announced Wednesday.