AQR Re hires ex-Markel retro reinsurance head Martin Vezina

AQR Re Ltd, the Bermuda based reinsurance firm which operates as an affiliate of global investment-management firm AQR Capital Management, has hired a senior retrocessional reinsurance specialist, Martin Vezina, who will take on the role of Chief Underwriting Officer.

Martin Vezina is well-known in the property catastrophe reinsurance and retrocession market from his time heading up catastrophe retro underwriting at Alterra. After Markel bought Alterra Vezina moved into a Managing Director position at the newly enlarged firm as Head of Retrocessional Property Catastrophe Reinsurance.

AQR Re wants to expand its presence in Bermuda and hiring Vezina, who will work alongside existing AQR Re senior underwriter Paul Mosquera from the firms Bermuda office, will help it to achieve that goal. Vezina brings significant experience in catastrophe retrocession, including having been in charge of underwriting for Alterra’s New Point V and other sidecar vehicles.

That experience will be valuable to AQR Capital Management, which had around $83.5 billion of assets under management as of June 30th, as the investment management side of the business operates a number of insurance-linked securities and reinsurance-linked investment strategies which AQR Re provides business for.

The addition of a retrocessional reinsurance strategy may well be on the cards with Vezina’s experience making that a real possibility.

AQR Re CEO John Lummis commented on the appointment; “We are pleased to continue investing in our operating platform.”

Vice Chairman Paul Karon added that Vezina’s “strong underwriting experience and actuarial background will be instrumental in serving our reinsurance clients’ needs.”