Odyssey Re has expanded its global presence through strategic acquisitions, including the purchase of Aspen Re's US reinsurance operations in 2019. This move marked a significant milestone in the company's growth strategy.
With its expanded US operations, Odyssey Re is now well-positioned to serve clients across the country.
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Executive Appointments
Odyssey Re has made significant changes to its executive management team in two of its operating divisions, EuroAsia and London Market. Isabelle Dubots-Lafitte has been named CEO for the Europe, Middle East, and Africa region, taking on a key leadership role within the company.
In 2015, Odyssey Re Holdings Corp. announced changes to its executive management team in the EuroAsia and London Market divisions.
Christopher Shafer as NA Cyber Underwriting Head
Christopher Shafer has been appointed as the Vice President and Head of North American Cyber Underwriting at Odyssey Reinsurance Company.
He will be responsible for assisting business partners in addressing cyber risk on a facultative and treaty basis.
OdysseyRe's North American CEO, Brian Quinn, likely played a role in Shafer's appointment, given his leadership position within the company.
Shafer's new role will focus on helping businesses navigate cyber risk, which is becoming increasingly important in today's digital landscape.
As the Head of North American Cyber Underwriting, Shafer will be a key figure in OdysseyRe's efforts to address cyber risk in the region.
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Appoints Humberto Contasta
Humberto Contasta has joined OdysseyRe as its new vice president of treaty underwriting.
He will be working at the firm's Miami office.
Contasta comes to OdysseyRe after nearly five years at TRANSRE.
Michael Finnegan SVP & Head of US General Casualty
Michael Finnegan has been named Senior Vice President (SVP) and Head of US General Casualty treaty at OdysseyRe.
He brings over 30 years of experience to his new role.
Finnegan is succeeding Steve Van de Graaf, who is retiring after 27 years of service.
Finnegan's extensive experience will be valuable in his new position.
Steve Van de Graaf is retiring after a long and distinguished career with OdysseyRe.
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Alejandro Zuñiga Named CUO, Agro
Alejandro Zuñiga was appointed as the Chief Underwriting Officer for OdysseyRe's Facultative and Agro business in Latin America and the Caribbean.
He joined OdysseyRe in 2016 as a senior facultative underwriter based in Mexico City.
Alejandro has written business for OdysseyRe throughout the Latin American region over the past few years.
His extensive experience and knowledge of the region make him a great fit for this role.
Newline Group Names 2 Executives in Asia
OdysseyRe’s Newline Group made two significant executive appointments in Asia, reflecting the company's growing presence in the region.
Rachel Flynn was named the principal officer for Newline Asia, a key role that underscores her leadership skills and expertise.
Susan Chew was appointed chief, bringing her extensive experience and knowledge to the position.
These appointments demonstrate Newline Group's commitment to building a strong team in Asia, a strategic move that will likely pay off in the long run.
The appointments were made in April 2016, marking a significant milestone for the company in its expansion plans.
Appoints New Execs for Euroasia and London
OdysseyRe made some significant changes to its executive management team in two of its operating divisions, EuroAsia and London Market.
Isabelle Dubots-Lafitte was named CEO for the Europe, Middle East, and Africa region. She took on this new role in 2015.
OdysseyRe's leadership team in Asia has also seen some changes. Rachel Flynn was appointed principal officer for Newline Asia, and Susan Chew took on the role of chief executive officer.
Ratings and Recognition
Odyssey Re has received recognition from top rating agencies.
A.M. Best assigned a Preliminary Credit Assessment (PCA) to Newline Europe Versicherung AG, with a Financial Strength Assessment of A pca (Excellent) and a Long-Term Issuer Credit Assessment of ‘a+’ pca.
S&P Global Ratings has also given Odyssey Re Europe S.A. a long-term financial strength rating of ‘A-‘ with a stable outlook.
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Moody's Upgrades Financial Strength
Moody's has upgraded the insurance financial strength rating of Odyssey Reinsurance Company and its subsidiaries to A2 from A3.
This upgrade is a result of strong underwriting results over the past few years.
Moody's highlights that despite the impacts of catastrophe losses in both 2017 and 2018, the reinsurer has managed to maintain its financial stability.
The upgrade from A3 to A2 is a significant improvement, indicating a lower risk of default for Odyssey Reinsurance Company.
The company's ability to withstand significant losses is a testament to its solid underwriting practices and risk management strategies.
S&P Assigns A- Rating, Stable Outlook
S&P Global Ratings assigned its 'A-' long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook.
This rating is based on an explicit guarantee provided by Odyssey Group Holdings, which gives investors confidence in the reinsurer's financial stability.
The 'A-' rating is a significant achievement, indicating that Odyssey Re Europe has a strong financial position and is well-equipped to handle potential risks.
Odyssey Re Europe's stable outlook suggests that its financial performance is expected to remain steady in the future.
The rating is a testament to the company's solid underwriting results, which have been consistently strong over the years.
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Newline Group Updates
Newline Group has launched a new business line dedicated to U.K. and International Affinity & Special Risks solutions.
This new business line allows Newline to offer Motor-related Warranty, Non-motor Warranty and value-driven add-ons, such as Excess.
Newline Group is part of specialty insurer and reinsurer Odyssey Re Holdings Corp.
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Newline Group Expansions
In 2016, Newline Group, a part of Odyssey Re Holdings Corp., made significant moves in Asia by announcing two executive appointments. Rachel Flynn was named the principal officer for Newline Asia.
These appointments were made to strengthen the leadership team based in Singapore. Susan Chew was appointed chief.
Frequently Asked Questions
What does the Odyssey group do?
The Odyssey Group provides reinsurance and specialty insurance services through three distinct operating platforms, supported by a network of global offices. It offers a wide range of insurance solutions through its six divisions and 37 business units.
Is The Odyssey realistic?
There is no conclusive evidence that the story of The Odyssey is based on real events, but its geographic elements may be rooted in real places that still exist today. The historicity of The Odyssey's story remains a topic of debate among scholars and historians.
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