Varney Insurance Agency has announced the formation of Varney Re, a new Bermudia-based reinsurer led by Tod Austin as Chief Operating Officer.
Austin was formerly president for the Atlantic Region at MEMIC Group and will now lead a specialist alternative risk transfer reinsurer as it looks to drive enhanced value for its North American client base via a range of insurance products.
Prior to MEMIC Group Austin served as Executive Vice President & Regional President at USI, having been a senior leader at TDI before its purchase by USI.
“This is an exciting moment for the entire Varney organisation as we launch Varney Re and welcome Tod into this senior role,” said Tim Varney, President & CEO, Varney Insurance Agency.
“Our business is growing at a fast pace and we are innovating to deliver ever more effective insurance and reinsurance solutions for our clients. I know that Tod’s business building experience will inspire our team to keep up the pace on our forward momentum and I am looking forward to working closely together to achieve our goals.”
Commenting on his appointment, Austin said, “I am proud to be joining the leadership at Varney, I’ve watched the progress of the business and am excited by its dynamism and client centric approach to risk management and insurance.
“Varney Re will focus on innovation and creative solutions to the challenges that our clients face and I can’t wait to get started.”
