Universal has appointed Elizabeth Hansen as its new chief actuary.
Hansen is moving into her new role from being senior vice president of Blue Atlantic Reinsurance Corporation, one of Universal’s subsidiaries. In her new role, she will oversee pricing, reserving, and co-lead risk monitoring enterprise-wide.
Steve Donaghy, chief executive officer of Universal, said: “Elizabeth is a highly tenured actuarial and risk management professional with significant expertise in our business. Under her leadership, I’m confident that our actuarial function will thrive and make our overall organisation stronger.”
Prior to serving as senior vice president of Blue Atlantic Reinsurance Corporation, a role she’s held since 2009, Hansen was a managing director at Guy Carpenter, senior vice president at EW Blanch and held various actuarial roles at John Deere Insurance Group.
Hansen is going into her new role at the Florida-based companies around two months after it said it had successfully renewed its reinsurance coverage at a ‘modestly’ higher cost.
The coverage was secured for Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC) at a total cost of $696 million.
This price reflects approximately 37.6% of estimated direct premiums earned for the 12-month treaty period, compared to 36.4% of estimated premiums at this time last year.
