RenRe CEO O’Donnell takes up new role to drive ESG

Bermuda-based reinsurer  RenaissanceRe Holdings has made a string of key appointments to further its environmental, social, and governance (ESG) strategy, as well its understanding of climate risk. The move includes its top officer Kevin O’Donnell (pictured top left) accepting the role of chair at ClimateWise.

ClimateWise is a global industry collaboration bringing together reinsurers, insurers, brokers and industry service providers to promote a systematic response to climate change across the financial system.

RenRe says its ESG strategy is centered on promoting climate resilience, closing the protection gap, and inducing positive societal change.

The reinsurer has promoted Harriet James (pictured top right) to VP, ESG strategy, who will be responsible for managing and progressing RenRe’s ESG strategy across the company, including identifying and managing ESG priorities and driving the development of new sustainability initiatives.

Cathal Carr (pictured bottom left), SVP, underwriting, has been named global head of climate and sustainability strategy, for designing, executing and coordinating RenRe’s climate and sustainability underwriting strategy across both property and casualty and specialty segments. This includes leading the development of new products and tools to respond to emerging underwriting opportunities.

Jeffrey Manson (pictured bottom right), SVP, underwriting and head of global public sector partnerships, will report to Carr and manage public sector partnerships, with a focus on responding to climate change and reducing the protection gap in emerging risk classes.

O’Donnell, president and chief executive officer of RenaissanceRe, said: “Climate change is one of the most complex challenges faced by the world and our business. As a reinsurer, we believe that we play an important role in managing climate risk while helping facilitate the transition to a lower carbon economy. I am honoured to chair ClimateWise and look forward to working with leaders across our industry and the University of Cambridge to strengthen our collective response to this important issue.”

O’Donnell continued, “I am pleased with the progress we have made furthering our ESG strategy. This is an area of focus for all of our stakeholders, including many of our employees, and I look forward to the passion and contributions that Harriet, Cathal and Jeff will bring to this critical part of our business. I am confident that they will continue to progress RenaissanceRe’s role as a positive force for change.”

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