Ocean RE has announced the hiring of Jamie Wakeling as Chief Underwriting Officer. Wakeling, with over thirty years of experience in the insurance industry, will join the London-based company’s team and will report directly to future CEO Guillermo Eslava. Eslava will assume the position in the second quarter of the year.
Ocean RE is a rapidly growing company, and adding Wakeling to its team is a further sign of its expansion. Carlos Chamorro, the current CEO of Ocean RE, stated: “We are delighted to have Jamie with us. His vast experience in the reinsurance industry will help us strengthen our presence in London and the international markets.”
Chamorro’s successor and current MD, Guillermo Eslava, highlighted what a valuable asset Wakeling’s underwriting experience will be for the reinsurer: “With Jamie’s underwriting experience, we will continue to strengthen our value proposition while we grow our portfolio in various business lines and geographies.”
Thus, Wakeling is expected to oversee a portfolio that spans treaty and facultative risks in property, general liability, financial lines, energy and engineering, and among other coverages, such as life and health (L&H) products. Additionally, his technical training and Ocean RE’s investment in models and technology will strengthen the company’s core business.
Wakeling began his career in Lloyd’s market in 1990, gaining experience in junior underwriting roles with the historic 860 and 506 syndicates. Before joining Ocean RE, Wakeling worked for two decades at Canopius, in which he held several high-level senior positions, including head of property treaties and CUO of reinsurance.
The executive was excited to join Ocean RE and to participate in the company’s next chapter of its expansion into London and international markets. “I am very excited to join such a successful and growing business. It’s a great opportunity to be at the forefront of Ocean RE’s next chapter of expansion in London and the international markets,” Wakeling added.
Ocean RE’s expansion and globalization continue in 2023 with key movements
The addition of Wakeling comes at a time when Ocean RE is expanding its operations through key acquisitions and high-level appointments. Last November, the company reached an agreement to buy the Miami-based reinsurance MGA Insight RE, marking its expansion into the US market. With the agreement, Eslava, founder of Insight RE, will become the successor to the current CEO of Ocean RE later in the year.
Under the motto of commitment to discipline, transparency, and consistency, the Ocean RE team has managed to expand to over 135 countries worldwide and reach a total of $414 million in underwriting premiums in 2022. Thanks to the opening of offices, the hiring of representatives and distributors, and the constant search for growth opportunities, its physical presence in five countries, including the UK, Barbados, and Panama, has been strengthened.
Ocean RE has subsequently positioned itself internationally as a multi-line insurance company for property, accidents, life, and health, with a focus on providing innovative and customized solutions to its clients worldwide.
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