Aditya Dutt, the outgoing head of RenaissanceRe’s Ventures business, has been appointed president and a partner of Aeolus Capital Management Ltd.

Bermudian re/insurer RenRe announced last week that Mr Dutt, a senior vice-president and president of Renaissance Underwriting Managers, would be leaving to pursue another opportunity.

Aeolus, a Bermudian-based firm that manages about $4 billion on behalf of investors seeking exposure to the property catastrophe reinsurance and retrocession market, said Mr Dutt would join them after a period of gardening leave.

Andrew Bernstein, managing partner and chief executive officer of Aeolus, said: “I am delighted to welcome Aditya to the Aeolus partnership. By adding this outstanding, experienced and innovative leader, Aeolus is further strengthening its capabilities as a premier manager of reinsurance risk.”

Since early 2017, Aeolus has been owned by a partnership among the Aeolus Partners, entities controlled by Elliott Management Corporation and the operating principals of Wand Partners.

Elliott Management Corporation manages approximately $40.2 billion of assets. Its flagship fund, Elliott Associates, L.P. was founded in 1977.

Wand Partners has, since its inception in 1985, been focused primarily on private-equity investments in specialty financial services, particularly insurance.