RSA continues Global Risk Solutions shake-up with new chief underwriting officer

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The Global Risk Solutions unit has been undergoing a raft of changes after making huge London market losses last year

RSA UK&I has hired Rachel Conran as the new chief underwriting officer of Global Risk Solutions, amid ongoing changes to the unit.

In May RSA announced it would be rolling out five industry practices over the course of this year in the Global Risk Solutions division, focussing on rail, chemical, food & beverage, real estate, and renewables.

The group in November 2018 began exiting its international construction, international freight and fixed price marine protection, and indemnity insurance lines as part of a wider restructure of its specialty and wholesale business – part of Global Risk Solutions.

The appointment of Conran, who will be based in Luxembourg, was said by RSA to be part of a wider focus on driving the performance of RSA’s Global Risk Solutions business.

RSA has made large underwriting losses for the past two years, with London market business particularly costly. Several senior changes have already been made at the top of the UK&I business, including Scott Egan taking over as chief executive.

Results for the first quarter of 2019 showed the business is starting to get back on track, as UK premiums fell.

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Conran said: “It’s an exciting time for RSA and I’m looking forward to joining a team that is determined to grow and deliver the best services to customers and brokers.”

She has most recently worked as an independent financial analyst, advising insurers on their underwriting strategy, and between 2009 and 2016 was chief underwriting officer for Allianz’s global corporate and specialty division.

She was also the chief executive and chief underwriting officer at SCOR Business Solutions from 2017 to 2018.

Tony Buckle, managing director of Global Risk Solutions, said: “We’re delighted to have Rachel on our team as we work to boost the profitability and development of our Global Risk Solutions business.

“Rachel has an impressive track record and I look forward to working closely with her to build our underwriting capability in the large corporate and specialty insurance space across our EMEA network.”