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Global professional services firm Aon has launched a life and health reinsurance practice in India to drive new capital into the sector, naming Renuka Nar and Neha Shah to key leadership roles.
According to Aon, the new practice will help bring sustainable reinsurance capacity to India’s life and health insurance sector, supporting cross-border reinsurers to enter the market to facilitate insurance market growth in line with Indian Government aims.
Joining Aon from broker Howden, Renuka Nar has been named head of broking of Aon’s new practice, reporting to Shailendra Sapra, CEO of Reinsurance Solutions in India. Meanwhile, Neha Shah joins Aon from Gen Re India as the practice’s chief actuary, also reporting to Sapra.
Nar will be responsible for leading and developing Aon’s India life and health reinsurance services, business strategy and value proposition, and will collaborate with reinsurance markets across the Asia Pacific region to expand the firm’s offerings to the benefit of clients.
At the same time, Shah will be responsible for leading and developing Aon’s actuarial service offering and supporting the strategy execution for Aon’s life and health reinsurance business in India.
Shah will also reportedly collaborate with the firm’s life and health reinsurance teams across the Asia Pacific region and internationally.
As per Aon, clients of the new practice will have access to a range of dedicated tools, such as its Life Risk Modelling Suite, which offers enterprise solutions for pricing, projections, valuation, and hedging, using a GPU-based engine to deliver speed, automation, and governance.
Aforementioned Shailendra Sapra, commented, “We are excited to launch our new life and health reinsurance practice in India, which is designed to accelerate the growth of this market, and address important client needs through new solutions and capacity.
“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.”
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