Specialty international insurance and reinsurance group, Chaucer, has promoted James Wright to Chief Risk Officer (CRO), effective April 1st, 2020.
In his new role, Wright takes responsibility for the direction, performance and management of the company’s enterprise wide risk management framework, which includes underwriting risk management, and exposure management.
He has been with the firm for 13 years, having first joined in 2006 as part of the Capital Modelling team. In 2013, Wright was promoted to Head of Capital Modelling and then to Head of Risk and Capital last year. Wright has responsibility for Chaucer’s Solvency II Internal Model and also its strategic deployment across the business, and also the implementation of the Risk Management Framework.
Chaucer’s Chief Executive Officer (CEO), John Fowle, said: “I would like to congratulate James on his well-earned promotion and I am delighted that he has accepted this new challenge. James’ deep understanding of our business and risk appetite will be critical to our ongoing development as a leading global underwriting group.”
Wright takes over from Penny Shaw, who is to step down from the role on March 31st, 2020 having successfully completed her role in the transition of Chaucer to its new parent, China Re. She joined Chaucer in 2014 as Board Risk Director, and was promoted to Group Chief Risk Officer for Chaucer and The Hanover Insurance Group in 2016.
“During her time at Chaucer, Penny has brought great insight, an invaluable strategic clarity, functional excellence and results-driven focus to Chaucer, while also being approachable, collaborative, and an invaluable mentor to many here. We will miss her contribution. Penny leaves with our sincere thanks and best wishes for the future,” said Fowle.
