News

OAK Reinsurance (“OAK”), a global reinsurance provider, has announced number of strategic appointments as it continues to develop its underwriting organisational structure and builds upon its successful launch on 25^th November 2024.

Since 1^st January 2025, OAK has successfully written approximately $400m of GWP at its target expected profitability, with an extremely positive global reception resulting in over 400 clients and a team build approaching 50 staff across Underwriting, Capital & Risk and Finance & Operations.

OAK has appointed the following underwriting leadership roles across its three segments of Property, Specialty and Credit, under the leadership of Cathal Carr as Group CUO:

Director of Underwriting, Property: Sarah Walcott
Responsible for property lines including property catastrophe, property specialty & property per risk; reporting to James Irvine, CUO, OAK Re

Director of Underwriting, Specialty: Conrad Williams
Responsible for specialty lines including marine, energy, political violence & cyber; reporting to James Irvine, CUO, OAK Re

Director of Underwriting, Credit: Karen Barker
Joining OAK Re in Q4 2025, Karen will be responsible for credit lines including conventional credit (single-name, whole turnover, ECAs), political risk and surety. She will report to Tom Dickson, President, Innovation Strategies

In addition, the following underwriters will assume cross segment roles:

Head of Ceded: Ciara Svensen
Responsible for strategic planning and execution of ceded across all classes of business; reporting to Alex Winfield – Chief Capital Officer & Head of Strategy

Head of Business Development: Tom Morgan
Responsible for management of strategic assumed relationships with distribution partners and global multiclass clients; reporting to Roland Morse – Managing Director, London

Chief Executive Officer, Founder and Group CUO, Cathal Carr said: “The quality, breadth and diversity of talent we have appointed across Underwriting, Capital & Risk and Operations & Finance is absolutely fantastic. This development of our organisational structure will enhance our capabilities in these areas, while ensuring we are focussed on servicing our clients and distribution partners, providing solutions in areas of evolving risk, and delivering profitable growth”.

Media contact
Haggie Partners: David Haggie, Caroline Klein, Olivia Thomson, Finlay Gardner

OakRe@haggiepartners.com
+44 (0)20 7562 4444

OAK Reinsurance (“OAK Re”), a global reinsurance company, announces that it has made a number of new appointments as it builds up its team following a successful underwriting launch at 1/1/2025. The new hires mean that OAK Re now has close to 40 staff members and this will continue to increase throughout 2025.

The most recent appointments include Tom Dickson, who will take the role of President, Innovation Strategies and is joining from New Energy Risk, where he was CEO.  This appointment is subject to UK visa approval. Roland Morse will assume the role of Managing Director, London.  He will join from Guy Carpenter.

In addition, Karen Barker will join as Credit Underwriter, having most recently worked at Axis Capital where she spent seven years and held the title of Senior Underwriter. In her new role, Karen will be the underwriting leader for credit classes at OAK Re. Deepon Sen Gupta has also joined as Head of Capital Partnerships. His previous roles include Group Chief Strategy Officer at Neon and founding board member for Beat Capital.

Chief Executive Officer and Founder, Cathal Carr said: “The development of OAK Re since we began underwriting has been exceptional, getting off to a fantastic start at 1/1 and continuing with Lloyd’s approval for an expanded business plan in April. The strong reputation that we have already established for extensive underwriting expertise combined with science and data-driven analytics is underscored by the calibre of new team members joining us. We look forward to benefitting from the experience and knowledge that our new colleagues bring to OAK Re.”

END

Media contact
Haggie Partners: David Haggie, Caroline Klein, Olivia Thomson, Finlay Gardner
OakRe@haggiepartners.com
+44 (0)20 7562 4444

OAK Reinsurance (“OAK Re”), a global reinsurance company, has received Lloyd’s approval to increase the 2025 business plan of Syndicate 2843 to over $400m of gross written premium.

The syndicate business forecast (SBF) resubmission followed OAK Re outperforming its expectations during the first quarter of 2025.

Chief Executive Officer and Founder, Cathal Carr said: “We are really pleased with the strong reception from the market globally and the quality of the portfolio we have underwritten to date. We believe this strongly endorses the value proposition of OAK Re and the strength of Lloyd’s. We look forward to building on this momentum through 2025 in partnership with our clients and brokers”.

ENDS

Oak Reinsurance
OAK Re is a global reinsurance company, based in London, underwriting through Lloyd’s Syndicate 2843. In an era of evolving risk, we support our clients today in building resilience for tomorrow. Combining science and data-driven analytics with extensive underwriting expertise, we deliver innovative risk solutions and leading insight. Through our commitment to collaborative, long-term partnerships, our team tailor these solutions to each client’s specific needs. We hold Lloyd’s Financial Strength ratings of: A+ AM Best, AA- S&P and AA- Fitch.

Media contact
Haggie Partners: David Haggie, Caroline Klein, Olivia Thomson, Finlay Gardner

OakRe@haggiepartners.com
+44 (0)20 7562 4444

OAK Reinsurance (“OAK Re”), a global reinsurance company, announces the appointment of James Irvine as chief underwriting officer (CUO), property. Based in London, Irvine will join in spring 2025, and report directly to Cathal Carr, chief executive officer and active underwriter of OAK syndicate 2843.

In his new role Irvine will lead the development of OAK Re’s property offering, a cornerstone of the company’s growth and leadership strategy.

Irvine has close to 20 years of experience, having begun his career at Guy Carpenter before joining Lancashire in 2010, where he was pivotal in building its treaty portfolio. He later advanced to become group chief underwriting officer, reinsurance. At Lancashire, Irvine oversaw underwriting operations across both Bermuda and Lloyd’s.

Irvine’s appointment is emblematic of OAK Re’s commitment to building a market-leading team that has a dynamic synthesis of knowledge and experience.

Cathal Carr said: “OAK Re’s vision is to establish a leading global reinsurance franchise at Lloyd’s, driven by industry-leading talent, underpinned by cutting-edge risk insights, and backed by long-term investors. Appointing James reflects this vision: it is another important step in continuing to build a team that leads from the front as the business grows.”

Oak Reinsurance (“OAK Re”), a global reinsurance company, today announces that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from 1 January 2025. This follows the approval in principle that was received in September 2024.

OAK Re was founded by Chief Executive Officer and Active Underwriter of OAK Syndicate 2843, Cathal Carr. OAK Re has built out its executive team to include Alex Winfield as Chief Capital Officer & Head of Strategy, Kirsten Mitchell-Wallace as Chief Risk Officer, Irfan Haq as Chief Financial Officer, Harriet James as Chief Operating Officer and Karl Stanley as Chief Technology Officer. It is forecasting $300mn GWP for 2025.

OAK Re is launching Syndicate 2843 in collaboration with blue chip capital providers including Bain Capital and Hampden Agencies, the largest provider of private capital to Lloyd’s. Polo Managing Agency is providing turnkey services for Syndicate 2843.

OAK Re is entering Lloyd’s as the market is enhancing its reinsurance leadership position. It will form a key part of this initiative, demonstrating how underwriting expertise, supported by the use of science and data-driven analytics, will benefit clients, investors and the wider market.

Cathal Carr, Chief Executive Officer and Founder of OAK Re said, “OAK Re is the culmination of our vision to establish a leading global reinsurance franchise at Lloyd’s, driven by industry-leading talent, underpinned by cutting-edge risk insights, and backed by long-term investors.

“In an era of evolving risk, the Lloyd’s platform and its long-term vision fits perfectly with our ambition to support our clients with reinsurance solutions today, enhancing resilience for tomorrow.

“We deeply appreciate the extensive support from the market in the creation of OAK Re – across the Lloyd’s new entrant process, capital raising and business planning – including brokers Aon, Gallagher Re, Guy Carpenter, Howden Re and Lockton Re, investment banking firm Evercore and legal firm Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.”

Patrick Tiernan, Chief of Markets, Lloyd’s, said, “The OAK Re syndicate shares our ambition to strengthen and extend the underwriting capability of the Lloyd’s market. Cathal and his team bring strong leadership and reinsurance expertise to Lloyd’s, and we welcome Syndicate 2843 to the market. Lloyd’s distribution, licensing and capital offering – combined with excellent financial strength ratings – provide a uniquely attractive platform for the world’s best underwriters to operate.”

Alistair Wood, CEO of Hampden Agencies, commented, “The launch of OAK Re is great news for Lloyd’s and our client investors. OAK Re has an impressive management team led by Cathal Carr, an underwriter with a great track record, offering modified freehold capacity. We see Syndicate 2843 as an excellent addition to Hampden’s client portfolios with a business plan focussed on areas of strong current pricing and future growth. We are delighted to have led an over-subscribed capital raise for this launch, clearly demonstrating the strong appetite for strategic investment in the growth and resilience offered by this new syndicate.”

Elena Lieskovska, a Partner at Bain Capital, said: “We are thrilled to collaborate with Cathal and the OAK Re team in establishing this global reinsurance company and Lloyd’s Syndicate 2843. With partnership at our core, we eagerly anticipate forging long-term relationships with market participants and unlocking tailored solutions to address client demand.”