Chris Parry, previously an ILS, reinsurance capital markets and catastrophe bond specialist at Aon Securities, has begun his new role as a Managing Director in Bermudian reinsurer RenaissanceRe’s Ventures unit.
Parry left Aon Securities at the end of May, after seven years at the capital markets broking unit during which time he climbed to the position of Head of Capital Markets for International.
In that role Parry was responsible for arranging and structuring numerous European and Bermudian catastrophe bond transactions, as well as many collateralised reinsurance arrangements and reinsurance sidecar launches.
Parry was immediately slated to join RenaissanceRe in Bermuda, taking a role within the Ventures unit that manages third-party capital, ILS fund and joint-venture initiatives at the reinsurance firm.
RenaissanceRe Ventures manages the DaVinci Re investor relationships, the Upsilon retrocessional reinsurance fund, the firms sidecars and the Medici catastrophe bond and ILS fund structure as well.
At RenRe, this growing part of the multi-balance sheet approach to business is key and Parry’s broad capital markets and ILS experience, as well as depth of contacts in the ILS space will be valuable.
Parry was previously investment bank Dresdner Kleinwort as a structurer and Citi as a structured credit business manager, before he joined Aon Securities. He also has experience in credit derivatives and audit.
Also of note, Kai Morgenstern, Managing Director at RenRe Ventures, is set to leave the unit after more than ten years. In an email, Morgernstern has moved to Germany for family reasons and will work remotely for one year on a consultancy basis before leaving the Ventures unit.
During this transition, Sebastien Iaxx, Managing Director, will handle all trading and portfolio management decisions for the Medici Fund.