Meredith Head on Her Career in Reinsurance

Meredith Head, Aspen’s Head of North American Property Catastrophe based in Bermuda, spoke to Bermuda: Re + ILS about her career to date. She also shared insights as to why the (re)insurance industry is great to work in!

Give us a snapshot of your career to date.

My career in the reinsurance industry began in 1997, as a “Reinsurance Trainee” at PartnerRe. At the time, it was a small, start-up operation, looking to make a big mark in the global reinsurance landscape.

I was fortunate to begin my career assisting the CEO and his marketing team and capturing the company’s strategic plans and accomplishments in its various publications. This work afforded me an excellent bird’s eye view of the reinsurance business and laid a strong foundation for my next position in property catastrophe underwriting for the USA and Canada markets.

PartnerRe offered me a wealth of opportunities to learn, including stints in offices outside of Bermuda. However, as the company grew, I missed the small dynamic team atmosphere, so I moved to a smaller, niche property catastrophe company called Tokio Millennium Re. While there, I broadened my underwriting skill to include a range of additional territories and learned how to coordinate catastrophe underwriting with ILS activities. Following TMR’s acquisition in 2019, Aspen Reinsurance offered me the role of head of US property catastrophe, and I’ve been managing this underwriting portfolio in Bermuda ever since.

What attracted you to re/insurance?

1997 was an exciting time to be in the property catastrophe reinsurance business in Bermuda! Following a wave of new companies forming here in the early 1990’s, many were starting to make their mark on the global scale, and it was thrilling to be part of an industry where Bermuda was punching well above its weight.

Property catastrophe underwriting was also an intriguing field to be in for me. At its essence, you are pulling together a broad set of information from science, finance and accounting, political and regulatory fields to help inform your clients on multi-million dollar decisions about hurricanes, earthquakes and other catastrophes. At the time, there were (and continue to be) smart people from interesting places with various backgrounds, all working smartly to grow this industry in Bermuda. The energy of it all was extremely appealing!

Who inspired you or acted as a mentor in your career?

There have been many people who have inspired me at different stages of my career. During my earliest days at PartnerRe, Cece Powell opened my eyes to the broad range of possibilities within reinsurance. Her marketing work was colourful and clever, proving there could be more interesting paths to success in reinsurance beyond spreadsheets and balance statements.

Elspeth Brewin was another important person during my earlier years. She was passionate about seizing the opportunity – whether it be in education or overseas secondments – she showed me how to keep my eyes open for ways that would position me for success!

What are your ambitions?

I continue to strive for a better work/life balance – finding ways to invest the proper amount of energy into all the things that I care about, both at home and at work. As a mother of three busy teenagers, I am always looking for ways to spend more quality time with family, while maintaining a satisfying career. This is not a new aspiration for me, but one that I feel can be particularly challenging for women.

Do you feel the re/insurance industry has made progress in terms of diversity and inclusion since you entered it? 

It is certainly more diverse now throughout all areas of our business, than when I first started in this business. Organizations, such as WiRe and WeSpeak, have helped to improve the situation for women. But, we are far from the finish line, and it is my hope that companies will continue to value and push for greater D&I going forward.

Do you feel this sector is especially attuned to diversity and inclusion?

Yes, the (re)insurance sector has been more attuned to D&I in recent years. While it may have been an area that lacked attention and reporting, D&I is now taken much more seriously, and progress is being measured and tracked. Furthermore, companies like Aspen, have a senior leadership team that believes in the importance of being a diverse, equitable and inclusive organisation, and have put a team of likeminded individuals in place to ensure we continue to move in the right direction.

Is there anything you would like to improve or change?

I think there is more that can be done to support women who are balancing family and career. The enhanced flexibility in work hours and remote work that have become more commonplace since Covid have helped significantly, but career vs. family challenges persist and there’s always room for improvement.

Have you encountered any challenges related to diversity and inclusion?

While I’m certain that there have been disparities over the years, I feel fortunate to have had a wealth of opportunities afforded to me during my career.

Would you encourage other women to consider this sector?

Yes, I would absolutely recommend this sector to other women. There are many opportunities that exist across a wide range of functions in (re)insurance for women to build satisfying careers. And there are more resources and support available to help advance women than ever before.

Why is this industry great to work in?

With so many interesting areas and business functions to choose from within the industry, combined with the opportunity to travel, earn a solid living and interact with talented people around the world, it’s hard to think of a better field to work in than (re)insurance!

Read the original article here.