Chaucer appoints chief risk officer

Chaucer, the specialty international re/insurance group, has promoted James Wright to chief risk officer, starting April 1, 2020. He will be responsible for the direction, performance and management of Chaucer’s enterprise wide risk management framework, including underwriting risk management, and exposure management.

Wright has been with Chaucer for 13 years, having joined the Capital Modelling team after university in 2006. He was promoted to head of capital modelling in 2013, and then to head of risk and capital in 2019. He is responsible for Chaucer’s Solvency II internal model and its strategic deployment across the business, along with implementation of the risk management framework.

“I would like to congratulate James on his well-earned promotion and I am delighted that he has accepted this new challenge,” said John Fowle, CEO of Chaucer. “James’ deep understanding of our business and risk appetite will be critical to our ongoing development as a leading global underwriting group.”

Wright succeeds Penny Shaw who will step down from the role on the 31 March, having successfully completed her role in the transition of Chaucer to its new parent company, China Re.

Shaw joined Chaucer in 2014 as board risk director, and in 2016 was promoted to group chief risk officer for Chaucer and The Hanover Insurance Group, Chaucer’s previous owner.

John Fowle said: “During her time at Chaucer, Penny has brought great insight, an invaluable strategic clarity, functional excellence and results-driven focus to Chaucer, while also being approachable, collaborative, and an invaluable mentor to many here. We will miss her contribution. Penny leaves with our sincere thanks and best wishes for the future.”