InEvo Re, a reinsurer established by Macquarie Asset Management, has reportedly entered into an agreement with a leading UK insurer to reinsure their PRT liabilities, including both pensions in payment and deferred pensioners.
Based in Bermuda, InEvo Re is led by a team with expertise in underwriting insurance and pension liabilities, asset liability management, investment and capital management.
Michael White serves as Chief Executive Officer of InEvo Re and is a seasoned executive with over 20 years of experience in the insurance industry.
Before joining InEvo he held various leadership roles, most recently as the CFO and Chief Actuary of Resolution Re, the Bermuda based reinsurance platform for Resolution Life.
Other executives at InEvo include Andrew Sooboodoo, Chief Risk Officer; Naren Persad, Chief Financial Officer; Ekow Eshun, Head of Actuarial and Risk; Caroline Radford, Head of Operations; and Luke Youlden, Chief Investment Officer.
Recently launched, InEvo Re aims to deliver innovative capital and risk solutions to life insurers, supported by access to Macquarie Asset Management’s leading insurance asset management capabilities, global platform, and expertise.
Commenting on the new agreement, aforementioned Mike White, CEO of InEvo Re, said, “We look forward to supporting our client in growing their UK PRT business and delivering security to policyholders.
“We believe our team’s quality, strong risk culture, and strategic partnership with Macquarie Asset Management represent a compelling proposition for insurers globally and are excited to see a strong pipeline of opportunities and positive engagement from prospective clients.”
Ben Way, Group Head of Macquarie Asset Management, added, “The insurance sector is a strategic priority for Macquarie Asset Management. InEvo Re strengthens our ability to provide solutions for insurance clients looking to service the ever-growing need for retirement products.
“Today’s announcement represents an important milestone for InEvo Re and is the result of significant investment by Macquarie Asset Management to build a world-class team and operational platform.”
For those unaware, Macquarie Asset Management is a global asset manager, integrated across public and private markets, that manages approximately $633.7 billion in assets.
