Aon Insurance Managers (Bermuda) Ltd., the unit of the global insurance and reinsurance broker that deals with insurance management, including of captive and insurance-linked securities (ILS) vehicles, has hired Anup Seth as Managing Director.
Anup Seth joins Aon Insurance Managers (Bermuda) Ltd. with responsibility for leadership and oversight of its captive and insurance or reinsurance management operations in Bermuda. Prior to that Seth held roles as Chief Actuary of ACE Bermuda Insurance Ltd. and Senior Consultant with PwC in Bermuda and London, respectively.
Seth has more than 20 years of experience, with a particular focus in providing specialty commercial insurance solutions to multinational companies. Given the increased convergence between the capital markets, the insurance and reinsurance industry, Aon expects Seth’s experience and insurance knowledge will “further strengthen our leadership team as we continue to strive to deliver innovative solutions to meet our clients’ needs.”
Seth commented on the appointment; “I’m delighted to join Aon and return to Bermuda at a time when the island has become the world’s leading Insurance Linked Securities marketplace, maintained its preeminent status as a captive domicile and has developed a robust corporate governance framework for its global (re)insurance industry. Given this backdrop, the investments that Aon has made in its client serving capabilities across Insurance Linked Securities, Captive & Insurance Management and Risk Consulting continues to position the firm for long-term revenue growth and further margin expansion on the island.”
The Aon Insurance Managers unit assists the convergence and ILS market with set-up, administration and management of insurance or reinsurance vehicles, for transactions ranging from catastrophe bonds through to collateralised reinsurance.
Aon also operates the segregated accounts company White Rock Bermuda, which facilitates investors access to reinsurance transactions and provides a platform for collateralised reinsurance transactions.