Office Project
Resume:
John M. Shea
Dumont, NJ, *****
pn76rc@r.postjobfree.com
SUMMARY PROFILE:
Seasoned reinsurance professional focused on strategy and innovation to satisfy client needs and augment their business plans resulting in increased revenue. Major strengths: evaluating the reinsurance environment, defining the objective, creating and implementing a successful solution. Highly motivated and organized with proven success in a team environment. Extensive background in primary and reinsurance practices for Surety, Financial Institution Products, D&O, EPLI, K&R., Professional Liability, Umbrella, Automobile, General Liability, Workers’ Compensation, and Environmental Liability. Experienced as a primary underwriter, reinsurer, reinsurance intermediary and a corporate ceded reinsurance officer.
Successful outcomes to project work which I was involved with as a participant as well as project leader.
SKILL SET:
• Organized, focused and experienced to define project work and implement a solution
• Ability to define objective and implement strategy for a successful solution based on evaluation of reinsurance environment
• Negotiation and settlement of individual losses as well as commutation of groups of losses
• Communication skills, written and oral, to support successful outcomes
• Ability to coordinate systems and critical individuals to develop process to obtain positive outcomes to projects
• Complete understanding of reinsurance and the underlying policies
• Negotiation of treaty contract terms to the benefit of the client
• Implementation of contract terms, as well as insuring compliance with standard terms and various regulatory compliance
• Word, Excel, as well as others
PROFESSIONAL EXPERIENCE:
CHARTIS, GLOBAL REINSURANCE DIVISION/REINSURANCE OFFICER/COMMERCIAL INSURANCE, NY, NY
April 2004-November, 2010
• Treaty Placement:
-Yearly review and develop net/treaty philosophy
-Develop, publish, maintain treaty underwriting guidelines
-Gather/package underwriting and claim data for release to reinsurance companies/brokers
-Work with actuarial department on pricing of new/renewal treaties
-Monitor placement/coding compliance in accordance with corporate, company and divisional guidelines
-Development and placement of highly sophisticated Facultative Obligatory and Non Obligatory agreements
• Administrative/Projects:
-Managed and developed process and strategy for CHARTIS treaty commutation project which handled over 70
treaties and estimated $170M in loss recoveries associated with legacy issues from 1994
-Monitor documentation (i.e. contracts and certificates) standards for reinsurance transactions
-Management of the overall relationship with direct reinsurance companies/intermediaries
-Respond to all regulatory reinsurance queries
-Assist in technical or precedent setting reinsurance issues
-Coordinate reinsurers with CHARTIS approved list
-Manage reinsurer underwriting and claim audits
AON RE INC., STAMFORD, CT
1986-2003
• Eighteen-year member of Aon Re. Inc. and its predecessor firms Surety Reinsurance Practice Group. Promoted from non-officer level to Senior Vice President in nine years. Full knowledge of U.S., European, and Bermuda surety reinsurance marketplace.
- Clients included: Aetna, Travelers, Continental, CNA, MCA, Titan, and International Fidelity
on a direct treaty basis, as well as representing Allstate Re and Signet Star Re in the surety
retrocession market.
• Designed, implemented and successfully brokered reinsurance programs for top
ten, regional and specialty surety companies.
- Analyzed notional exposures
- Developed a “broking” strategy to place a reinsurance protection best suited to dovetail with the client’s
strategy based on client peer position, analysis of market conditions, and evaluation of expected
reinsurer behavior. This resulted in a 125% increase in account revenue to Aon Re Inc.
- Redesigned the reinsurance program for a regional surety which resulted in over $250,000
in new revenue to Aon Re Inc.
• Created reinsurance solutions to address unique reinsurance challenges for clients which increased revenue to client firm and Aon Re Inc. Examples are:
- Developed an aggregate stop loss protection for a top five surety as a reinsurance protection best suited
to its needs, business plan, and experience. Educated an unreceptive market to successfully complete
placement.
- Formulated a Y2K strategy for a top five surety which covered their entire book of business
through the entire exposure period of twenty-four months.
- Designed and implemented a strategy to protect Commercial surety business during the 2001 and 2002
capacity crisis.
• Designed and implemented professional liability reinsurance programs for major clients which
enabled them to add to their product inventory and increase income.
• Developed and implemented successful broking strategies to bring new client products to market.
- Successfully placed a $20M quota share for Golden Parachute Insurance.
- Created a $25M quota share for start up EPLI writer.
- Instituted a comprehensive professional liability reinsurance protection under a $25M Master Bond
quota share.
As a result of these strategies, there was an increase in income to both the client firm and Aon Re Inc.
• Macro/Micro management of accounting/claim/contract wording process to insure the highest quality
ROYAL INSURANCE COMPANY, NY, NY
1983-1986
Home Office Underwriting Manager for the Excess and Surplus Lines Casualty Division.
• Responsible for insuring field office compliance with home office underwriting guidelines resulting in lower overall loss ratio.
• Organized and controlled field office and home office referral and clearance systems resulting in a more positive image to the brokerage community.
• Prepared an underwriting strategy in anticipation of the 1986 reinsurance capacity crisis which insured viability in the marketplace.
• Trained home office and field office staff in understanding the 1986 ISO claims made form.
AIG, NY, NY
1980-1983
Home Office Senior Underwriter.
• Underwrote both Umbrella and Professional Liability through the field office system and major NY brokers.
• Focus was on the most difficult underwriting cases.
• Handled field office referrals and trained both home office and field office personnel.
ASPEN SYSTEMS, INC., NY, NY
1979-1980
Compiled a database for discovery evidence developed for the AT&T antitrust case with the DOJ.
PROFESSIONAL COVERAGE MANAGERS, NY, NY
1975-1976
Professional Liability Underwriter.
• Established workflow procedures for policy issuance streamlining the process, which resulted in increased policy issuance per week at the same cost.
L.W. BIEGLER, NY, NY
1974-1975
Umbrella Liability Underwriter.
• Increased the premium written by over 100% during my tenure.
HOME INSURANCE COMPANY, NY, NY
1972-1974
Umbrella Liability Underwriter.
• Established a diary system to audit all umbrella policies written on a rated basis, resulting in an increase in revenue to the company.
EDUCATION:
BS/MBA, St. John’s University, NY.
Contact this candidate