Varney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base.

Tod Austin (pictured above) has been appointed chief operating officer for Varney Re. Prior to joining Varney Re, Austin served as president of the Atlantic region for MEMIC Group. He has also served as executive vice president and regional president at USI, and president at Hackett Valine and Macdonald.

Read more: W.R. Berkley creates Bermuda-based special purpose insurer

“This is an exciting moment for the entire Varney organization as we launch Varney Re and welcome Tod into this senior role,” said Tim Varney (pictured below), president and CEO of Varney Insurance Agency and Varney Re. “Our business is growing at a fast pace and we are innovating to deliver even 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.”

“I am proud to be joining the leadership at Varney,” Austin said. “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.”



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