RenRe creates new Capital Partners unit with Chris Parry as global head
Bermuda-based reinsurer RenaissanceRe Holdings has rebranded its ventures business with Chris Parry taking the lead role as global head of RenaissanceRe Capital Partners.
The new Capital Partners unit will focus on managing the reinsurer's third-party capital relationships, joint ventures and managed funds, including DaVinci, Medici, Top Layer, Upsilon, and Vermeer.
RenRe's president and chief executive officer Kevin O’Donnell, who assumed the responsibility for the ventures business on an interim basis following Aditya Dutt's departure in July last year, thinks the new name reflects the business' differentiated model.
“Our strategy is to match attractive risk with efficient capital, and over the last two decades, our third-party capital management business has grown into one of the most distinguished in the industry," he said. "Critical to this success has been our partnership approach and strong alignment with third-party investors."
As part of the rebranding, the strategic investments pillar of the business has been renamed RenaissanceRe Strategic Investments, with Jonathan Anderson taking the role of SVP, global head.
He will report to chief financial officer Bob Qutub, and be responsible for seeking and managing public and private investments that generate attractive risk-adjusted returns while advancing RenaissanceRe’s business objectives.
Qutub said: “Operating an Integrated System is an important aspect of our strategy. Bringing RenaissanceRe Strategic Investments under the finance umbrella will unify our investment approach, enhance our business capabilities and increase shareholder value.”
O’Donnell concluded: “Chris and J.J. are highly experienced RenaissanceRe team members and Bob and I look forward to continue working with them as we advance our strategy through these two important functions.”
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