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Context and objectives
  • A major European-based reinsurer, subsidiary of a major global insurance company
  • Strategy to become a full service Life and P&C re-insurer: all business lines, all products, all geographies
  • Worked with the CEO and senior team to define target organization model and transform the business
Approach
  • Worked with the CEO to align the senior team around a shared vision and strategy to develop a global footprint for the business
  • Identified 16 geographical regions where the Company wanted to step up operations, including breadth of services to be initially offered by region
  • Defined a new global organization structure, including the scope of activity and staffing for local operating units
  • Determined key operating principles between HO and operating units
  • Developed a new underwriting organization; standardization of methods and approaches to underwriting
  • Defined and deployed an integrated and coherent commercial strategy, based on local and global accounts, including deployment of account management practices
Results
  • Increased growth and recognition as a global full-service reinsurer
  • Deployment of a new global organizational model and operating approach
  • Integration of the reinsurance and large Risk Divisions, allowing the company to gain greater leverage with brokers and creating a larger global operating entity