What's Happening?
David Lee Cole, a prominent figure in the business world and former Chairman, President, and CEO of Aon's property and casualty company, passed away peacefully at his home in Chicago on February 16, 2026, at the age of 78. Born in 1947, Cole's career
was marked by significant achievements in the insurance industry. He began his career at Ford Motor Credit in 1972 and joined Aon Corporation in 1976. His leadership roles took him to the United Kingdom in 1989, where he served as President of Ryan Insurance Group Europe and London General Insurance Company, Ltd. In 1993, he returned to the U.S. to lead Aon's property and casualty company, transforming it into the Aon Warranty Group. The company was later acquired by Onex Corporation and renamed The Warranty Group, where Cole remained until his retirement in 2012. Cole is survived by his wife, Colleen, their four children, and several grandchildren.
Why It's Important?
David Lee Cole's contributions to the insurance industry, particularly through his leadership at Aon, have had a lasting impact on the sector. His work in expanding Aon's reach and transforming its property and casualty division into a globally recognized entity underscores his influence. The acquisition of the Aon Warranty Group by Onex Corporation highlights the value and success of the business model he developed. Cole's legacy extends beyond his professional achievements, as he was also known for his dedication to family and community. His passing marks the end of an era for those who worked with him and were inspired by his leadership and vision.
What's Next?
A visitation for David Lee Cole will be held on February 19, 2026, at St. Chrysostom’s Episcopal Church, followed by a service on February 20, 2026. In lieu of flowers, the family has requested donations to the Breakthrough Board of cancer research at UChicago Medicine, reflecting Cole's battle with cancer and his appreciation for the care he received. This gesture not only honors his memory but also supports ongoing research efforts, potentially benefiting future patients and advancing medical knowledge.
Beyond the Headlines
David Lee Cole's life and career offer insights into the dynamics of leadership and innovation in the insurance industry. His ability to navigate complex markets and drive growth through strategic decisions serves as a case study for business leaders. Additionally, his personal story of resilience and commitment to family highlights the human side of corporate success. The emphasis on cancer research donations in his memory also brings attention to the importance of supporting medical advancements and the role of philanthropy in healthcare.
