Price Forbes Re (PF Re) has hired Aon Re executive Sherman Power as its executive vice president for alternative risk and capital solutions.
In this newly created position, Power will collaborate with the treaty reinsurance team to enhance PF Re’s reinsurance capacity through growth capital and reserve covers.
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Operating out of Dallas, Texas, Power will report directly to Pat Rastiello, CEO of Price Forbes Re, North America.
With nearly 30 years of experience, Power’s expertise spans insurance and reinsurance, including stints in underwriting and broking.
At Aon Re, he headed the US structured solutions team and held the position of global head of innovation, capital advisory.
Earlier, he worked at Swiss Re US, where he headed the regional & large structured solutions team.
Throughout his career, Power has held various senior positions and managed diverse teams across various business classes, the company said.
Rastiello said: “I am delighted to welcome Sherman to Price Forbes Re. His appointment is indicative of the high calibre team we are building, bringing a wealth of leadership experience and considerable analytical expertise. We have a number of exciting opportunities in the US market, and I very much look forward to working with him.”
Power noted: “I’m excited at the opportunity to work with Pat and the reinsurance team to leverage their many talents in further building Price Forbes Re’s US offering. The company has demonstrated impressive growth in recent years and, with some exciting opportunities in prospect, I look forward to contributing to its future success.”
Earlier in February 2025, Price Forbes announced the rebranding of Besso Sigorta, a subsidiary of Besso Insurance Group, as Price Forbes Türkiye.
This follows the acquisition of Besso Insurance Group by BGC Partners in 2017 and the subsequent acquisition of BGC Partners’ insurance operations by the Ardonagh Group in 2021 for $500m (£402.79m).
Ardonagh Specialty acts as the holding company for independent brokers, including Price Forbes.
