InEvo Re Enters the Pension Risk Transfer Market
InEvo Re, a reinsurer backed by Macquarie Asset Management, has announced a significant agreement with a prominent UK insurer. This deal involves reinsuring the insurer’s Pension Risk Transfer (PRT) liabilities, covering both current pensioners and those with deferred pensions. InEvo Re, operating out of Bermuda, is helmed by a seasoned team specializing in underwriting insurance and pension liabilities, as well as asset liability management, investment, and capital oversight.
Leadership and Expertise
Leading InEvo Re is Michael White, the Chief Executive Officer, who brings over two decades of experience in the insurance industry. Prior to his role at InEvo, he held various executive positions, most notably as CFO and Chief Actuary at Resolution Re, a Bermuda-based reinsurance entity affiliated with Resolution Life.
The leadership team at InEvo Re includes:
- Andrew Sooboodoo, Chief Risk Officer
- Naren Persad, Chief Financial Officer
- Ekow Eshun, Head of Actuarial and Risk
- Caroline Radford, Head of Operations
- Luke Youlden, Chief Investment Officer
Recently inaugurated, InEvo Re is set to offer innovative capital and risk management solutions to life insurers, leveraging the extensive asset management capabilities, global reach, and expertise of Macquarie Asset Management.
Comments on the New Agreement
Michael White, CEO of InEvo Re, expressed optimism about the new partnership, stating, “We are eager to assist our client in expanding their UK PRT business and ensuring security for their policyholders. Our team’s quality, robust risk culture, and strategic alliance with Macquarie Asset Management make for a compelling offering for insurers worldwide. We are thrilled to witness a strong pipeline of opportunities and positive feedback from potential clients.”
Macquarie Asset Management’s Strategic Priority
Ben Way, Group Head of Macquarie Asset Management, remarked, “The insurance sector remains a strategic priority for us. InEvo Re enhances our capacity to provide solutions to insurance clients addressing the increasing demand for retirement products. Today’s announcement marks a crucial milestone for InEvo Re and reflects Macquarie Asset Management’s substantial investment in establishing a top-tier team and operational framework.”
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager, seamlessly integrated across public and private markets, managing approximately $633.7 billion in assets worldwide.
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