Aditya Dutt, the head of RenaissanceRe Holdings Ltd’s Ventures business, is to leave the company to pursue a new opportunity, the Bermudian re/insurer announced today.

Kevin O’Donnell, RenRe’s chief executive officer, will assume responsibility for the Ventures business on an interim basis.

“I am excited to be leading the Ventures business at a time when I see many opportunities to profitably deploy partner capital,” Mr O’Donnell said.

“Our Ventures team combines deep bench strength with a track record of innovation. For more than 20 years, we have helped our clients reduce their volatility through our unique capability to match attractive risk with both owned and partner capital.

“Given these market opportunities and the strength of our team, systems and partner relationships, I look forward to furthering our legacy as an industry-leading manager of partner capital.”

Mr. O’Donnell added: “We appreciate Aditya’s many contributions to our success during his time with RenaissanceRe. He has done an outstanding job managing our Ventures business. We will miss him personally and professionally and wish him well in his future endeavour.”