OAK Reinsurance (OAK Re) has announced the appointment of James Irvine as chief underwriting officer for property.
Irvine will assume the role in spring 2025 and will be based in London. He will report directly to Cathal Carr, the company’s chief executive officer and active underwriter of Lloyd’s Syndicate 2843.
In his role as CUO, Irvine will oversee the development of OAK Re’s property reinsurance portfolio, which the company identifies as a key element of its broader growth and leadership objectives.
Irvine brings nearly two decades of industry experience to the position. He began his career at Guy Carpenter before moving to Lancashire in 2010, where he played a central role in expanding its treaty portfolio.
During his tenure at Lancashire, he served as group chief underwriting officer for reinsurance, managing underwriting operations across both Bermuda and Lloyd’s.
OAK Re’s leadership emphasized that Irvine’s appointment aligns with its strategic focus on building a high-performing team with deep industry expertise. The company noted that its approach combines advanced risk insights and the support of long-term investors to drive its expansion.
In a statement, Carr highlighted the company’s long-term vision, noting that OAK Re aims to establish itself as a leading global reinsurance franchise at Lloyd’s.
“OAK Re’s vision is to establish a leading global reinsurance franchise at Lloyd’s, driven by industry-leading talent, underpinned by cutting-edge risk insights, and backed by long-term investors. Appointing James reflects this vision: it is another important step in continuing to build a team that leads from the front as the business grows,” Carr said.
OAK Re, which operates out of London through Lloyd’s Syndicate 2843, holds financial strength ratings of A+ from AM Best and AA- from both S&P and Fitch.
Last month, the reinsurer noted that Lloyd’s Syndicate 2843 has been granted permission to underwrite business starting Jan. 1, 2025.
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