Strategic Appointment at Price Forbes Re
Price Forbes Re has welcomed Sherman Power into the newly established position of executive vice president for Alternative Risk and Capital Solutions. In this capacity, Power will operate from Dallas, Texas, and will report directly to Pat Rastiello, CEO of Price Forbes Re, North America.
Role and Responsibilities
Power’s new role involves collaborating with the treaty reinsurance team to boost the company’s capabilities in providing growth capital and reserve covers, especially for emerging insurance markets. This strategic move is part of the company’s broader goal to expand and solidify its presence in these burgeoning sectors.
Experience and Previous Roles
With a career spanning nearly three decades in the (re)insurance industry, Power brings a wealth of experience in both underwriting and broking. Prior to joining Price Forbes Re, he was a key figure at Aon Re, leading the US structured solutions team and serving as the global head of innovation within Capital Advisory. His previous roles also include leading the Regional and Large Structured Solutions team for Swiss Re US and holding senior positions managing teams across various business classes.
Leadership Comments
Commenting on the appointment, Rastiello said: “Sherman’s inclusion is a testament to the outstanding team we are assembling, characterized by significant leadership acumen and analytical prowess. We have numerous promising opportunities in the US market, and I am enthusiastic about collaborating with him.”
Power’s Perspective
Power expressed his enthusiasm by stating: “I’m thrilled to collaborate with Pat and the reinsurance team to harness their diverse talents in further enhancing Price Forbes Re’s offerings in the US. The company has shown remarkable growth in recent years, and with several promising prospects on the horizon, I am eager to contribute to its continued success.”
