AARON BROWN

Aaron Brown’s current role is regional manager for the UK & Ireland at MAXIS Global Benefits Network. He manages a team of eight which oversees global relationships with multinationals, specialising specifically in captives and other financing solutions for global employee benefits. He has been with MAXIS for 11 years, working in a variety of business development roles, and has been leading the region since 2019.

Prior to joining MAXIS, Brown worked for one of its shareholders, MetLife. MAXIS is a joint venture company between MetLife and AXA, and Brown worked in MetLife’s domestic pensions and investment business when he first moved to London. He has had various other financial services roles specialising in insurance, as well as time working in Switzerland at the very start of his career.

Brown was described as being dedicated to his clients and having led his team to a high level of success in the captive insurance industry. One commentator said that Brown has consistently shown a deep understanding of the market, adding that he has grown as a leader during his time at his company.

Here, Brown describes why he believes the captives industry is a great sector for young people to be involved in, why cultural nuances within the industry are important—and why quick progression is possible for young talent.

Do you feel that the captive insurance industry is a rewarding sector to work in?

I do. Given the global nature of our roles, it’s particularly interesting to be able to understand the cultural nuances within the industry, but also the differences in insurance in each of the local markets we operate in. I find that having the ability to travel and develop my understanding of specific markets is very rewarding.

I also enjoy working in the international environment that we have at MAXIS—we have people from all over the world in our London office, where I’m based, which means we’re constantly learning from each other’s different backgrounds and experiences.

Working with senior stakeholders within our multinational clients has given me excellent exposure to see what it takes to be a great leader. From my experience, leading by example and taking a proactive approach to business are two attributes I have seen in successful leaders.

Would you recommend the captive insurance industry to young people as a future career path?

It’s a great industry for young people to be involved in. Historically, insurance has been a very traditional part of the financial services sector and might not have been that attractive an option for younger people. But in the time I’ve been at MAXIS, and since I was first involved in the industry in general, I’ve seen some very interesting changes, not only when it comes to the people working in the industry, but also the innovation and technology now being utilised more by insurers and our clients.

I definitely feel that young people joining the industry now have multiple ways to develop their skills, and there are lots of different opportunities and roles available. The industry provides chances to move internationally and experience different countries and cultures which is a great prospect for young people at the start of their careers.

How do you feel that the captive insurance industry will evolve?

There’s always a comparison made between the ‘non-life’ and ‘life’ worlds of insurance, especially when it comes to captives. Even though there have been improvements in innovation on the employee benefits and life side recently, we’re still quite far behind the non-life side when it comes to access to real-time data. I definitely feel that there’s an opportunity for the networks and local insurers to innovate and give real-time access and detailed claims analysis, not only to local customers but to customers at the global level.

Another area we are seeing great innovation is in the diversity, equality and inclusion (DE&I) space, as multinationals adopt a proactive approach to support their people. Multinationals are working to ensure that, regardless of geographic location, gender, sexuality or ethnicity, access to benefits is the same.

Technological advancements are helping to drive this change and the insurance world is changing along with the needs of employers and employees. Working closely with multinationals to achieve their DE&I goals is an area I’m passionate about and has helped me to advance my career, too.

Do you think that your long-term future remains in the captive insurance industry?

Yes. It’s a very niche industry, even more so on the employee benefits side—there are only seven main competitors so we’re working in a small circle, and we know each other very well. I’ve had some good success and quick progression within my personal career which has enabled me to achieve lots of great things, and I think as you broaden out your network of connections and contacts within a specific industry, it would be quite difficult to leave all that behind and start afresh.