Fairfax Financial Holdings Limited has announced that, in connection with recent management changes at Odyssey, the CEO of Odyssey Group, Brian Young, will expand his remit to share oversight responsibilities with Andy Barnard, President of Fairfax Insurance Group, over all of Fairfax’s insurance and reinsurance operations.
Odyssey has confirmed that Young will continue to serve as its CEO, and has concurrently announced several leadership changes for its global reinsurance business and London Market Division.
Effective April 1, 2023, Carl Overy, presently CEO of Odyssey’s London Market Division, will be appointed to the newly created role of CEO of OdysseyRe, where he will report to Young.
Overy has served at Odyssey Group for more than 20 years. Before he became CEO of the London Market Division – a position he assumed in 2008 – he was the Division’s Chief Actuary.
Additionally, Overy’s new position encompasses the management of OdysseyRe’s global reinsurance portfolio and underwriting platform that operates through five regions, which includes North America, Latin America, EMEA, Asia Pacific and London.
At the same time, the firm also noted that Bob Pollock, presently head of Odyssey’s US Financial Lines, Cyber and Worker’s Compensation business, will become CEO of Odyssey’s London Market Division, where he will report to Overy.
Pollock joined Odyssey Group in 2004. In his first role at the company he served as a casualty treaty underwriter, and since then has gone on to progress through several positions, each with increased underwriting authority and broader responsibilities.
In 2021, he was named the head of US Financial Lines, Cyber and Workers Compensation.
Young, commented: “I’m looking forward to working more closely with Prem Watsa and Andy Barnard while continuing to lead Odyssey. And it’s a win-win to be able to elevate Carl and Bob, both of whom have devoted their careers to us, into higher leadership positions with greater responsibilities.”
Overy, added: “I am delighted to have the opportunity to lead the global team at OdysseyRe, and the appointment of Bob to lead the London Market Division once again demonstrates our commitment to promote from within. The stability of our management team at every level of the organization is a hallmark of Odyssey that greatly benefits our employees, clients and distribution partners.”
Prem Watsa, Chairman and CEO of Fairfax, commented: “Odyssey Group has thrived under Brian Young’s leadership over the past 12 years. We are delighted with these promotions, which attest to the strength of talent at Odyssey Group and will position the company to continue to grow profitability over the long term. While Brian continues as CEO of Odyssey Group, we are thrilled that he will begin to work more closely with Andy Barnard and share oversight responsibilities over all of our insurance and reinsurance operations. Since Andy first assumed this oversight role in 2011, Fairfax has profitably expanded almost fivefold. Our continued success will benefit from Brian’s expertise.”
These leadership changes will be effective as of April 1, 2023, subject to certain approvals in the UK.
