Applied Underwriters' United Risk Division Names Jay Cahill Chief Financial Officer

PR Newswire

Seasoned veteran brings wealth of experience in reinsurance, MGA, and capital market transactions

NEW YORK, April 22, 2024 /PRNewswire/ -- Dan Malloy, CEO, United Risk, a division of Applied Underwriters, has announced the appointment of Jay Cahill to the post of CFO, effective May 1, 2024. United Risk, based at 50 Rockefeller Plaza in New York, is a specialized facility providing international property and casualty insurance underwriting and distribution. It is independently owned and operated by its practice partners.

Citing the Company's aggressive growth and expanded transactional business, Mr. Malloy stated that Mr. Cahill's appointment "hits the bullseye" in the highly particular areas of reinsurance, capital markets, and MGA transactions, currently increasing in number at United Risk: "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."

Mr. Cahill, who served most recently as Managing Director of Underwriting for Awbury Insurance Ltd. where he led the addition of treaty-ceded structured reinsurance alongside the existing facultative programs and placed over $3B in new reinsurance, called the United Risk post a fresh opportunity and a challenge: "United Risk's entrepreneurial engine, market savvy, and professional staff are remarkable. 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."

Jay Cahill has worked in reinsurance and finance for more than 25 years with particularly profound experience in banking, private equity, venture investing, and reinsurance, as a risk analyst, underwriter, and investment professional.

As Managing Director at Awbury from 2021 to 2024, Mr. Cahill was responsible for ceded reinsurance and third-party capital, specialty, professional lines and property retro underwriting and new business development. Prior to Awbury, he was SVP of Underwriting and Global Head of Credit and Financial Lines at Renaissance Reinsurance Ltd (RenRe). At RenRe, he built from scratch the number one independent mortgage reinsurance business in the industry. He was responsible for managing Specialty Lines in Bermuda and for all Credit and Financial Lines globally.

Earlier in his career, he worked in private equity and investment banking at TA Associates, UBS Warburg Dillon Read, and Barclays Global Investors, now BlackRock.

Mr. Cahill holds a Master's from Berkeley in Financial Engineering and a BA magna cum laude from Boston College in Computer Science. He has lectured at Columbia University on insurance topics.

About United Risk Global (www.unitedrisk.global)

United Risk Global is an international property and casualty insurance underwriting and distribution platform independently owned and operated by its practice partners and affiliated with Applied Underwriters operationally and through its common and powerful brand identity. United Risk's home office is located at 50 Rockefeller Plaza in New York.

About Applied Underwriters (www.auw.com)

Applied Underwriters^® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.