Aditya Dutt, the leader of RenaissanceRe’s insurance-linked securities (ILS) and third-party capital management businesses, is set to take on the role of Partner and President of Bermuda-based reinsurance and ILS focused investment fund manager, Aeolus Capital Management Ltd.
As we wrote last week, it was announced that Dutt would be leaving RenRe for another opportunity, with CEO Kevin O’Donnell taking over control of the reinsurer’s Ventures unit from Dutt.
Aeolus has now revealed that following a period of gardening leave from his current employer, Dutt will be joining the firm as a Partner and President, and will also be elected to the firm’s Board.
Most recently, he served as Senior Vice President of Ventures at RenRe, but has been with the Bermuda domiciled reinsurer for twelve years. Dutt leads the reinsurer’s ILS and alternative capital operations, which includes DaVinci Re, State Farm linked joint-venture Top Layer Re, the retro reinsurance focused Upsilon funds, and the catastrophe bond and collateralised reinsurance focused Medici ILS Fund, Vermeer Re, and Langhorne Re, which is a joint-venture with Reinsurance Group of America.
Since early 2017, Aeolus has been owned by a partnership among the Aeolus Partners, entities that are controlled by Elliott Management Corporation and the Operating Principals of Wand Partners.
The company says that within this partnership structure it has excelled, and has managed to bolster its franchise with the delivery of robust risk adjusted performance in challenging market conditions. Aeolus says that it has also managed to diversify its investor base and continued to meet the coverage needs of its partners in the reinsurance and retrocession markets.
Andrew Bernstein, Managing Partner and Chief Executive Officer (CEO), commented on the appointment: “I am delighted to welcome Aditya to the Aeolus partnership. By adding this outstanding, experienced and innovative leader, Aeolus is further strengthening its capabilities as a premier manager of reinsurance risk.”