Veteran insurance executive Dennis Mahoney has joined brokers Oneglobal Bermuda as chairman.

The Bermuda resident’s appointment, which has immediate effect, was announced today by London-based parent company Oneglobal Broking.

The company said Mr Mahoney is a past president of the Insurance Institute of London, and also served as chairman of the World Insurance Network and subsequently as a long-time board member of ACORD, the insurance industry standards body.

Following his retirement as chairman of Aon Global, he served on the board of Ironshore prior to its sale to Liberty Mutual, Oneglobal said.

Mr Mahoney, a resident on the island since 2007, continues to serve on the board of Oakley Capital Management Limited.

He also served as executive chairman of RFIB prior to its sale to Tysers.

The company said Mr Mahoney’s involvement will build upon its commitment to invest in Oneglobal’s Bermuda operation.

It said Bermuda is a globally important marketplace for insurance, reinsurance and the capital market needs of its clients providing innovative solutions to complex issues.

Jonathan Palmer-Brown, chairman of Oneglobal, said: “As Oneglobal’s ambitious growth plans continue, Dennis will bring senior leadership and huge experience to our existing Bermuda operation which has already achieved considerable success.

“I have worked with Dennis over many years, and I know his energy and international network, combined with his dedication to delivering for clients and colleagues will greatly accelerate our plans in Bermuda and beyond.”

Mr Mahoney added: “I am delighted to have been given the opportunity to join this exciting broking venture.

“Having worked alongside both Mike (Reynolds, CEO of Oneglobal) and Jonathan for many years, I have absolute confidence in their outstanding knowledge, experience and leadership. They are attracting first-class talent around the world, which is more important than ever in the current turbulent times.

“Bermuda is an exciting and dynamic environment with innovation at its very heart. I look forward to playing my part in Oneglobal’s growth in the Bermuda marketplace in due course.”