India's life and health insurance sector is set to gain a new layer of support as Aon plc launches a specialized reinsurance practice aimed at addressing capital needs and market expansion.
The newly launched practice will assist insurers in optimizing capital positions, reducing earnings volatility, and enhancing product design and distribution. These efforts, Aon said, are geared toward improving shareholder value and addressing key challenges in the rapidly evolving insurance market.
Renuka Nar has been appointed as head of broking for the practice. Reporting to Shailendra Sapra, CEO of Aon’s reinsurance solutions in India, Nar will lead the development of Aon’s reinsurance services, business strategy, and overall value proposition in the region.
Previously with Howden, Nar will also collaborate with reinsurance markets across the Asia-Pacific region to expand the firm’s offerings.
In addition, Neha Shah has joined as the practice’s chief actuary, bringing her experience from Gen Re India. Shah will oversee actuarial services and support the execution of the firm’s life and health reinsurance strategies. She will work closely with Aon’s regional and international teams to strengthen service offerings, reporting to Sapra as well.
"The new life/health reinsurance practice in India is designed to accelerate the growth of this market and address important client needs through new solutions and capacity," Sapra said.
Aon’s broader life reinsurance team of over 40 specialists in the Asia-Pacific region will provide additional expertise in capital management, risk analysis, pricing, and technology.
