Introduction to the Stream
From earthquakes and meteor strikes to cyber terrorism and widespread flooding, the risk of catastrophes on a global scale should never be underestimated. But what happens when the conventional insurance market isn't able to provide the requisite cover for such occurrences? Or when that same market can't meet the needs of businesses that require innovative solutions for large or complex risks? Could the business in question retain this risk and, if so, how much risk could it retain?
These are the type of challenges Aon Global Risk Consulting (AGRC) tackles on a regular basis, by providing a process to determine the strategy for achieving the optimal balance of risk retention within an organisation.
We deliver alternative risk solutions, such as captives, protected cell companies or less formal risk retention vehicles. A captive is an insurance or reinsurance company set up by its owners primarily to insure its own specific risks. The Risk Consulting Team considers all alternatives for the client, often performing detailed financial analysis to reach their recommendations. The owners benefit from reduced insurance costs, access to reinsurers, an ability to insure the ‘uninsurable' and improved cover and control. Many international companies have found that a captive or a cell company is the best means of creating and administering a global risk management programme – and have benefited as a result.
A leader in the captive space, we provide several solutions to clients ranging from captive feasibility studies to business plan preparation, formation and management through to closure, consulting and claims management and a variety of actuarial projects.
Pieta (Malta) and St Peter Port (Guernsey)
The Global Risk Consulting European Captives Graduate Programme lasts 18 months and has been designed to identify and develop the future leaders of our business. As such, we're looking for those of you who can demonstrate a genuine enthusiasm and potential for building a lasting career at Aon.
Impress us, and you will have the opportunity to work with a number of our key business leaders across our distinctive practice groups in the areas of Insurance, Finance, Compliance and Risk Consulting. This will expose you to all aspects of our Risk, Consulting and Captives Operation through on-the-job learning opportunities and participation in European captive projects.
Training and development
During the Programme and your career with Aon, you will be expected to obtain a professional qualification, preferably one in Insurance or Accounting or at a level that is appropriate and relevant to your position. Increasingly, our clients and regulatory authorities are demanding evidence of individual competence to deliver professional service and advice. The most reliable and consistent message we can send is that our employees hold, or are studying towards, an industry-recognised professional qualification.
Your learning and development will be fast-paced and hands-on. You will be following a distinctive placement framework relevant to your working domicile, giving you the technical knowledge and client management skills you need to succeed within our business. We also have an attractive educational assistance policy in place to encourage and support you as you grow and develop.
To apply for the Global Risk Consulting European Captives Graduate Programme, you will have achieved (or be on track to achieve) at least a 2:1 degree within an international insurance and finance-related discipline. You must be willing to travel to other European domicile locations during the placement to participate in the various allocated projects and training events. You will also need the ability to combine numeracy and analytical abilities with customer service skills and the confidence to question.