Aon Risk Services International has opened a new office in Reykjavik, Iceland, which will be its new coordination point for global retail business in the country. Aon said it will “focus on large companies in a number of sectors such as the food manufacturing and food processing industry, energy and heavy industry, aviation, financial, retail, pharmaceuticals, high tech and telecommunication.”
The Company has named Karl Eggertson as Office CEO. He previously coordinated the Icelandic Business Development from Denmark, and has wide experience in the insurance business. He was formerly employed by Vodafone and Oracle. According to the new CEO, the focus is to “expand Aon’s operations through hiring experts and using the resources available within Aon. This way we will be able to add value to the services we provide to our clients”.
Aon noted: “The Icelandic non-life insurance market is well developed with a full range of covers available using either local or foreign insurers. There are currently four non-life insurance companies locally that underwrite most of the domestic business. Aon Re has, over the years, been very involved with at least two of these insurers in placing their reinsurance, and continues to build their relationship with the remaining ones.” Eggertson commented: “This way we will be able to issue local policies as well.”
Apart from using the Aon network of offices to service multinational clients, Aon Iceland will work closely with the local insurance market, Icelandic authorities and the Icelandic financial market.