Reinsurance company OAK reveals a series of appointments
Oak Reinsurance Prepares for 2025 Debut, Focuses on Sustainability and Climate Innovation
Oak Reinsurance, a new player in the reinsurance industry, has received permission to commence operations from January 1, 2025. The company is set to underwrite business in the near future, but details about the new underwriting leadership roles in the Property, Specialty, and Credit segments remain undisclosed.
Despite the lack of specific names, available information suggests that Oak Reinsurance is keen on underwriting strategies that address evolving risks from climate change. The focus is on developing insurance and reinsurance products aligned with sustainability principles, leading multi-disciplinary teams of underwriters, catastrophe researchers, and sustainability experts, and meeting new insurance demands to support businesses and communities facing climate and transition risks.
The organizational structure of Oak Reinsurance has been designed to enhance capabilities in these areas. The company has partnered with Moody's to adopt applications on the Moody's Intelligent Risk platform, aiming to service clients and distribution partners, provide solutions in areas of evolving risk, and deliver profitable growth.
Meanwhile, in a separate development, Cathal Carr, CEO, Founder, and Group Chief Underwriting Officer of an unspecified organization, has been appointed talent in Underwriting, Capital & Risk, and Operations & Finance. Additionally, Mike O'Mahoney, who boasts over 30 years' experience in the London Motor Fleet Market, has been appointed as Director to the Motor Fleet team at Price Forbes.
As for Oak Reinsurance, its Lloyd's Syndicate 2843 is set to start operations on January 1, 2025. However, further inquiry or direct company sources would be required for precise names and role descriptions of the underwriting leadership in the Property, Specialty, and Credit segments at Oak Reinsurance.
While a recent announcement names Phil Joubert as Managing Director and Head of Asia Pacific Insurance Solutions at Oaktree Capital Management, this role is focused on the APAC insurance client segment rather than underwriting leadership of the aforementioned segments at OAK Reinsurance specifically.
- Oak Reinsurance, due to start operations in 2025, is focusing on underwriting strategies that address evolving risks from climate change, with an aim to develop insurance and reinsurance products aligned with sustainability principles.
- In the reinsurance industry, Oak Reinsurance has partnered with Moody's to adopt applications on the Moody's Intelligent Risk platform, a move that targets providing solutions in areas of evolving risk and delivering profitable growth.
- Meanwhile, the finance industry has seen changes with Cathal Carr, a seasoned professional, being appointed a key role in Underwriting, Capital & Risk, and Operations & Finance, while Mike O'Mahoney, with 30 years of experience in the London Motor Fleet Market, joined the Motor Fleet team at Price Forbes.
