NAME: Rachael Wallington
NEW JOB TITLE: London-based head of specialty reinsurance, MS Amlin
PREVIOUS POSITION: London-based lead underwriter, MS Amlin
INDUSTRY OUTLOOK: Overall, I believe its positive. There have been and continue to be significant changes made in response to consecutive years of challenging results for the industry. It is important we maintain increased levels of discipline across all lines, and if we can collectively achieve this, then the market will be in a far more sustainable position than five years ago.
GOALS FOR NEW POSITION: Im excited about the new role and I already have some clear priorities. I want to build out the specialty reinsurance portfolio for MS Amlin in London, which is currently primarily focused on agriculture and terrorism. I will be focused on growing these well-established portfolios, continuing to enhance profitability, as well as expanding other lines of business. The opportunities are there, and Im keen to go after them.
CHALLENGES FACING THE INDUSTRY: Many lines are under increased scrutiny given challenging recent results throughout the industry. The industry must resist the temptation to offset reductions in these classes, with unwarranted growth in other specialty lines which have produced superior results. After all, it is often not possible to simply scale a profitable account without an adverse impact on profitability.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I have been in the industry since 2005 when I was a pricing actuary at Alea in London. My first specialty experience came when I moved to Bermuda in 2008, where I wrote a variety of specialty reinsurance lines including agriculture, space, medical malpractice, workers compensation and mortgage business.
ADVICE: Question everything and look to expose yourself to as many lines of business as possible. Our industry provides ample opportunities for those willing to put the effort in, persevere, and keep an open mind. Our business is a people business, and I encourage any new joiner to put their hand up for every opportunity to get out and see clients and brokers. Travel is one of the best rewards in our global industry, and it is the most effective way to build longstanding relationships across the world.
OUTSIDE THE INDUSTRY, A DREAM JOB: Growing up, my dream was always to work with animals, particularly within a charitable organization.
COLLEGE MAJOR: Mathematics with actuarial science, University of Southampton
LOOKING FORWARD TO: Helping the development of new staff is a passion, and my immediate focus is to attract and foster new talent. Success here will empower me to spend more time managing my portfolio and working with leadership to align the book within the wider reinsurance portfolio.
FAVOURITE MEAL: The five years I spent working in Singapore helped broaden my palette and exposed me to the rich and diverse cuisines of the countries I had the great opportunity to visit. My favorite meal is a Thai green chicken curry, served on a bed of coconut rice.
BOOK: NULL
HOBBIES: Cycling, yoga, dance, swimming and running with my dog, Colby.
TV SHOW: Im a sucker for a good box set. Im currently working my way through Squid Game, but my favorite would still have to be Game of Thrones.
ON A SATURDAY AFTERNOON: My perfect Saturday afternoon would involve spending time with my 2-year-old daughter, followed by a quick trip to my local gym for a yoga/dance class (while my husband babysits).
