Aon on Thursday (23 Jan) announced the official establishment of its life and health reinsurance practice in India, alongside the appointments of Renuka Nar as Head of Broking and Neha Shah as Chief Actuary for the new practice.
In a media release, the global brokerage said the practice aims to provide sustainable reinsurance capacity to India’s life and health insurance sector, facilitating market entry for cross-border reinsurers in alignment with Indian Government objectives.
Key areas of client support include capital position optimisation, managing insurance and financial volatility, product design and distribution enhancement, and improving shareholder value through optimised capital and reduced earnings volatility.
Shailendra Sapra
CEO of Reinsurance Solutions, India at AonNar moved to Aon from Howden and reports to Shailendra Sapra, CEO of Reinsurance Solutions, India, with her appointment first covered by (Re)in Asia earlier this month. She is responsible for leading and developing Aon’s life and health reinsurance services in the country, as well as formulating business strategy and enhancing the firm’s value proposition, Aon said.
Shah joined from Gen Re and also reports to Sapra. In her new role, she will lead Aon’s actuarial service offering, supporting strategy execution for the life and health reinsurance business in the country.
“With Renuka and Neha taking leadership roles, we are confident that this new capability will help to shape better business decisions for our clients in this sector,” commented Sapra.
Aon’s life reinsurance broking team in Asia Pacific consists of over 40 specialists. The new India practice will utilise the team’s global market connections and product solutions to assist insurers in managing complexities and seizing opportunities, Aon added.
