Global professional services company Aon has introduced its life and health reinsurance practice in India and appointed Renuka Nar and Neha Shah to leadership roles.
The practice aims to introduce new capital into the sector and enhance decision-making for clients.
Nar has been appointed as the head of broking and Shah as the chief actuary of the new practice.
Both Nar and Shah will report to Shailendra Sapra, CEO of Aon India Reinsurance Solutions.
Nar, who joins Aon from Howden, will lead the development of Aon’s life and health reinsurance services in India.
Nar’s responsibilities include shaping the business strategy, enhancing the value proposition and collaborating with reinsurance markets across Asia-Pacific to benefit clients.
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By GlobalDataJoining from Gen Re India, Shah will steer Aon’s actuarial service offerings and support strategic execution for the life and health reinsurance business.
Shah will work alongside Aon’s life and health reinsurance teams in Asia-Pacific and internationally.
The new practice will leverage global market relationships and product solutions, while Aon has more than 40 specialists in the life reinsurance broking team across the Asia-Pacific region.
The company claimed that clients will gain access to Aon’s Life Risk Modelling Suite, which provides enterprise solutions for pricing, projections, valuation and hedging.
Sapra said: “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.”
It follows the appointment earlier this month of John Neal as the global chairman of Climate Solutions and global CEO of its reinsurance arm.
Neal transitions to Aon from Lloyd’s of London, where he served as CEO since October 2018.