Applied Underwriters' United Risk division names CFO

Applied Underwriters’ United Risk division names CFO | Insurance Business America

Insurance News

Applied Underwriters’ United Risk division names CFO

New chief has played a key role at a host of top firms

Insurance News

By
Jonalyn Cueto

United Risk, a division of Applied Underwriters, has appointed Jay Cahill as its new chief financial officer, effective May 1, 2024.

The announcement was made by Dan Malloy, CEO of United Risk, who emphasized that Cahill’s appointment aligns with the company’s ongoing growth and expanding business operations. He described Cahill’s experience and expertise as a perfect fit for their current trajectory in reinsurance, capital markets, and MGA transactions.

“We are growing quite rapidly in our market sectors, calling upon a highly experienced financial leader in the role of CFO. Jay Cahill’s track record and directly relevant accomplishments commend him to us and to an industry segment in which he has become widely known and admired. We welcome him,” Malloy stated.

Key player in insurance landscape

Cahill joins United Risk after serving as managing director of underwriting for Awbury Insurance Ltd., where he played a pivotal role in expanding reinsurance operations and bringing in over $3 billion in new reinsurance, according to a media release.

With more than 25 years of experience in reinsurance and finance, Cahill brings expertise in banking, private equity, venture investing, and reinsurance. Before his role at Awbury, he served as SVP of underwriting and global head of credit and financial lines at Renaissance Reinsurance Ltd. (RenRe), where he was instrumental in building “from scratch” one of the leading independent mortgage reinsurance business in the industry, it was stated. He also managed specialty lines in Bermuda and oversaw all credit and financial lines globally.

Commenting on his new position, Cahill expressed his enthusiasm for the opportunities ahead.

“United Risk’s entrepreneurial engine, market savvy, and professional staff are remarkable,” he said. “Its approach of offering its team a chance to participate meaningfully in transactions and to share in the outcomes has taken hold and effected business growth that is impressive, notably in the firm’s specialty reinsurance assumed portfolio that I hope to advance as CFO.”

Cahill began his career in private equity and investment banking at TA Associates, UBS Warburg Dillon Read, and Barclays Global Investors, now BlackRock. He holds a Master’s degree in Financial Engineering from the University of California, Berkeley, and a BA magna cum laude in Computer Science from Boston College. He has also lectured at Columbia University on insurance topics.

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