Aon Launches Life and Health Reinsurance Practice in India.
New initiative aims to enhance insurer capital
optimization, mitigate risk, and foster market growth. India’s life and health insurance industry is set to benefit from a significant development as Aon plc introduces a specialized reinsurance practice tailored to address the capital needs of insurers and facilitate market expansion.
This newly established practice is designed to help insurers optimize their capital positions, reduce volatility in earnings, and improve product design and distribution strategies. Aon emphasized that these initiatives aim to boost shareholder value while tackling critical challenges in a rapidly transforming insurance landscape.
Renuka Nar has been appointed the Head of Broking for the new practice. Reporting directly to Shailendra Sapra, CEO of Aon’s Reinsurance Solutions in India, Nar will spearhead the development of Aon’s reinsurance services, strategic initiatives, and the firm’s overall value proposition in the Indian market.
Previously associated with Howden, Nar will also engage with reinsurance markets across the Asia-Pacific region to broaden the company’s portfolio and offerings.
Additionally, Neha Shah has joined the practice as Chief Actuary, bringing her expertise from Gen Re India. Shah will manage actuarial services and lead the implementation of Aon’s life and health reinsurance strategies. She will work closely with Aon’s regional and global teams to bolster the firm’s service offerings, reporting to Sapra as well.
Shailendra Sapra, CEO of Aon’s Reinsurance Solutions in India, commented, “The new life and health reinsurance practice is specifically designed to accelerate the growth of this market by addressing the evolving needs of our clients with innovative solutions and enhanced capacity.”
Aon’s broader life reinsurance team, which includes over 40 specialists across the Asia-Pacific region, will offer further expertise in areas like capital management, risk analysis, pricing, and the application of advanced technology.