Aon Launches India Life and Health Reinsurance Practice; Names Renuka Nar and Neha Shah to Leadership Roles

Aon plc (NYSE: AON), a leading global professional services firm, today announced the launch of its life and health reinsurance practice in India to drive new capital into the sector and help shape better decisions for clients.

Renuka Nar has been named head of broking of the new practice, reporting to Shailendra Sapra, CEO of Reinsurance Solutions in India for Aon. Joining Aon from broker Howden, 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.

Meanwhile, Neha Shah joins Aon from Gen Re India as the practice’s chief actuary. Also reporting to Sapra, 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. She will also collaborate with the firm’s life and health reinsurance teams across the Asia Pacific region and internationally.
Aon’s broader Life reinsurance broking team comprises of more than 40 specialists in Asia Pacific. The new India life and health practice will leverage the team’s global market relationships and product solutions to help insurers navigate complexities and capitalize on opportunities, with expertise across capital, pricing, risk analysis and technology.

The new team 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. The practice will help clients in key areas, including:

• Better managing and optimizing capital positions;
• Managing inherent insurance and financial volatility;
• Enhancing the client experience through better product design and distribution;
• Improving shareholder value through higher returns on optimized capital and reduced earnings volatility.

Clients of the new practice will have access to a range of dedicated tools, such as Aon’s Life Risk Modelling Suite, which offers enterprise solutions for pricing, projections, valuation and hedging, using a high-performance GPU-based engine (PathWise®) to deliver speed, automation and governance.

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.”