UP CLOSE: Nicola Wood
Posted On: Jan. 31, 2016 12:00 AM CST
LONDON-BASED UNIT HEAD OF U.S. EXCESS CASUALTY
Novae Group P.L.C.
PREVIOUS POSITION: London-based co-head of global casualty for Aspen Insurance Holdings Ltd.
LOOKING FORWARD TO: Working exclusively in the Lloyd's (of London) market, (where Novae launched a U.S. property excess and surplus lines business Jan. 1). There is such an energy and buzz working for a Lloyd's syndicate.
GOALS FOR NEW POSITION: To build a diverse book of profitable U.S. casualty business that provides tailored solutions for our clients.
CHALLENGES FACING INDUSTRY: Whilst we theoretically have access to a lot of data, we are not using it in the best means possible. Finding reliable data sources and applying it is extremely difficult.
INDUSTRY OUTLOOK: Many believe that consolidation in the industry will continue this year and that, balanced with a slowdown in new capital entering the market, may be beneficial. Whilst pricing remains competitive, in certain areas there are some signs that pricing pressure may ease.
FIRST INDUSTRY JOB: Professional trainee at Independent Insurance Co. Ltd.
WHAT SURPRISED ME: That it wasn't boring. There is such a diversity of tasks and insureds that you are always learning and being challenged.
ADVICE: Never be afraid to ask a question.
OUTSIDE THE INDUSTRY, A DREAM JOB: Wildlife documentary filmmaker.
HOBBIES: Spending time with my daughter and husband. Reading and drinking a nice pint of ale.
WHEN I RETIRE: I would like to spend more time traveling.
FAVORITE MEAL: Roast dinner.
FAVORITE BOOK: I love reading and go through various stages of different types of novel. At the moment I can't read enough psychological thrillers ... “1984” (by George Orwell) always remains vivid in my mind.