Ep282 Cathal Carr, Oak Global: Building a New Reinsurer at Lloyd's

As an insurance journalist, sometimes I think we in our profession must be a leading indicator for the industry. When we are breaking news it certainly feels that way. But at other times it often feels like we are a lagging indicator. Today’s podcast is a case in point. From about 6 years ago the insurance media picked up on a long-term trend and told its story. The story was that transacting reinsurance within the Lloyd’s market was something that was on the wane. Somehow Lloyd’s had lost its attractiveness and its market share was in major decline, indeed perhaps terminal decline. But no sooner had that narrative become commonplace did events make us look somewhat foolish. Today’s guest is a prominent leader of a resurgence of the use of Lloyd’s as a platform for building a reinsurance business. Cathal Carr is CEO of Oak Global, a new business underwriting global reinsurance and retro from within the Lloyd’s platform. Before founding Oak, Cathal had a stellar career with RenaissanceRe spanning two decades, so his reinsurance pedigree is impeccable. In this podcast we get into the heart of what Oak is all about, but as we do we quickly uncover some long-term reinsurance demand trends that Cathal believes will drive his business and the reinsurance sector long into the future. Cathal is highly regarded among his peers and is representative of a new generation of insurance leadership now breaking through and setting up their own businesses. As such our discussions around how to design and attempt to future proof a new reinsurer in the age of cloud computing and nascent AI are fascinating and highly recommended listening. So listen on for an exceptionally well-rounded interview with the founder one of the market’s newest and most exciting young business. LINKS: We thank our naming sponsor AdvantageGo: https://www.advantagego.com