Aon Benfield UK executive Alastair Speare-Cole is set to join rival broker Jardine Lloyd-Thompson Re to become its CEO.

A source at Aon Benfield confirmed Speare-Cole will leave Aon at the end of May and will join JLT after his notice period has been served.

The source said the decision was amicable and that Aon “wishes him every success in his future endeavours.”

JLT Re, which was launched in 2006, has been run by former Aon executive Alan Griffin since its inception.