James Donnelly
Associate director
Aon
Personal bio: I’m a Northeast guy through and through. I grew up in southern Connecticut and currently live in New York City with my fiancée and our dog. Sport plays a big part of my life, both watching and playing, which really dominates my free time. Also, as an avid traveller, I set out to visit a new country every year.
Professional profile: I graduated from Loyola University of Maryland in 2013 with a bachelors degree in business economics. Out of college, I was afforded an opportunity to underwrite group health insurance for an underwriting company in Hartford, Connecticut.
From there I parlayed that baseline knowledge into a role (I was employee number 5) at a startup company in New York City that used a digital platform to provide loans to small businesses. In search of more stability I ventured back to the insurance world and landed a job underwriting trade credit and political risk insurance at Euler Hermes (a subsidiary of Allianz). Two years later I was recruited to Aon Reinsurance to develop new business.
How did you end up in the captive industry?
Completely by accident really. When I was underwriting insurance I had heard about captives and was intrigued by them but had no direct exposure and only a highlevel understanding of their function.
When I was hired here at Aon, Beth Turbitt (a colleague/friend of mine who’s worked in the space her entire career) really introduced me to the industry and the wide range of opportunities for us. It’s been full steam ahead ever since.
What has been your highlight in the captive industry so far?
I started a marketing campaign this year targeting large employers with captives who self-fund their employee health plans.
The goal was to educate them on the benefits of managing a portion of that exposure within their captive and the campaign was a massive success.
It leads to a couple of wins, a lot more opportunities and connected me to a bunch of industry leaders.
What/who have been your influences in the captive industry?
Overall it’s the successful people who strive to innovate and improve that have really influenced me. I’d be remiss if I didn’t specifically mention Beth Turbitt, Scott Sobel, Phil Giles and Andrew Christie. Their intelligence, decisiveness and patience has really shaped the way I conduct myself and approach the business. Grab a beer with them at the next event, you won’t regret it.
What is your impression of the industry?
It’s fast-moving, demanding and the perfect spot for people who think outside the box. Insurance isn’t always the sexiest industry but there’s a lot of room for innovation and new ideas. Seems like the captive industry is home to and rewards people with that kind of disruptive mindset.
What are your aspirations for your career in the captive industry?
I’d eventually like to reach a point where I’m considered a trusted advisor and a subject matter expert. I’m really trying to learn about this industry from all angles and reach the point where I can comfortably advise captive regulators, managers, owners, reinsurers, etc.
What advice do you have for someone considering a role in the industry?
Jump on opportunities to get involved. Some of my best memories are from attending conferences and industry events. Also, spend some time learning about the nitty-gritty details. You don’t need to know everything to be successful but you never know when that little factoid about policy issuance based on where the captive is domiciled may come in handy.
Phillip Giles, vice president, sales and marketing, QBE North America “During the time that I have been acquainted with James, we have had the opportunity to successfully collaborate on several reinsurance placements for captive programmes. Throughout the time we have been associated, I have been able to observe the highly professional manner in which he has approached his position and career. James, in short, has been one of the most conscientious, detail-oriented and professional brokers that I have worked with. He continuously exhibits a highly analytical, creative and consultative approach to his position, which has delivered a high degree of trust for him within the captive (re)insurance community. I also recommend James for his unique ability to establish strong and confident relationships with his clients. He truly is earning a reputation as a trusted advisor. His self-motivation, knowledge and ethical awareness, coupled with the above qualities, will certainly be the basis for continued success and future leadership status within our industry.”
