New York and Cayman-based Northern Reinsurance has hired former Everest employee Vincent Pomo as Chief Underwriting Officer (CUO), effective April 29, 2024.
An experienced veteran across the sector, Pomo brings over 15 years of experience towards his new role.
He rose through the ranks at Everest in a relatively short space of time, most recently leading the actuarial pricing team as their Chief Pricing Actuary of Global Reinsurance.
Whilst serving in that role, Pomo was responsible for leading Everest’s treaty reinsurance and facultative actuarial pricing function. In particular he focused on leveraging internal and external data for deeper transactional and portfolio insights, as well as building out more solid and consistent pricing processes across the globe in order to support the profitable growth of the Everest portfolio.
Prior to joining Everest, Pomo served at PartnerRe, where he held the role of Senior Pricing Actuary.
In addition, he also previously served as a Actuarial Analyst at both Arch Insurance Group and ISO, a subsidiary of Verisk.
“I am incredibly impressed with Northern’s dedication to leveraging technology and data to really set themselves apart in the reinsurance industry. It is an honor to join a team that is not only pioneering in its approach but also brings a fresh perspective on how a reinsurance operation should be built.” commented Pomo.
“Bringing Vincent on board is a milestone moment for Northern Re. His deep sector knowledge and proven track record will unlock immense potential in how we approach the business and utilize data to serve our counterparties better. We’re excited about the perspectives he brings and the impact he will have in the years to come,” said Co-founder and Managing Partner Anthony McKelvy.
In addition, Northern Re has experienced a warm welcome to the program market since the company launched in April 2023 as a new collateralized reinsurance company.
Having raised $75 million in committed capital, the company commented that it is on track to write more than $225 million in Gross Written Premium across various casualty lines in 2024 and is continuing to strengthen its balance sheet with additional funding.
“Our capital partners are looking for low-beta, low-volatility returns. They were thrilled with 2023 performance, and everything we have seen in Q1 indicates that 2024 could be even stronger. Vincent is going to help ensure that we can build on this strategy for the long-term,” added Co-Founder and Managing Partner Peter McKelvy.
