RenaissanceRe Capital Partners has made another key hire, adding Manjit Varwandkar as a Portfolio Manager for the firm’s catastrophe bond investments focused Medici Fund strategy.
The third-party capital management and insurance-linked securities (ILS) unit of Bermuda-headquartered reinsurance firm RenaissanceRe (RenRe) has been expanding its team of specialists in recent months, with Varwandkar the latest to join.
As a Vice President and Portfolio Manager for the RenaissanceRe Medici Fund strategy, Varwandkar will report to Sebastien Iaxx and remain based in Bermuda.
Varwandkar joins RenRe Capital Partners from his most recent role at Sompo International in Bermuda.
He had worked for Sompo International and its predecessor companies since 2007, with his most recent position being as the lead for the Parametrics Product Line for Sompo Global Risk Solutions (GRS).
In that role, Varwandkar was responsible for the product development, structuring and underwriting of Sompo International’s parametrics product portfolio.
Before that, Varwandkar was responsible for the portfolio management, product development and actuarial functions at Blue Capital Management, Sompo’s insurance-linked securities (ILS) asset manager unit.
He also served in a number of roles spanning planning, actuarial, and risk analytics at Montpelier Re, the previous parent to Blue Capital.
“We’re excited to welcome Manjit to the team, our cat bond fund has experienced significant inflows over the last 12 months, and I’m sure he’ll play a major part in the continued success of the strategy,” Chris Parry, Global Head of Capital Partners told Artemis.