Specialty international (re)insurance group Chaucer has announced the promotion of James Wright to the position of chief risk officer (CRO), effective 1 April 2020.
In his new role, Wright will take responsibility for the direction, performance and management of the company’s enterprise wide risk management framework, including underwriting risk management and exposure management.
Wright has been with the company for 13 years having joined the business in 2006 as part of the Capital Modelling team. In 2013 he was promoted to head of capital modelling and then to head of risk and capital in 2019. He is responsible for Chaucer’s Solvency ll Internal Model and its strategic deployment across the business as well as the implementation of the Risk Management Framework.
John Fowle, CEO of Chaucer said: “I would like to congratulate James on his well-earned promotion and I am delighted that he has accepted this new challenge. James’ deep understanding of our business and risk appetite will be critical to our ongoing development as a leading global underwriting group.”
Wright will succeed Penny Shaw who steps down from her role on 31 March 2020 having completed her role in the transition of Chaucer to its new parent company, China Re. She joined Chaucer in 2014 as Board risk director and was promoted to group chief risk officer for Chaucer and The Hanover Insurance Group in 2016.
Fowle, commented: “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.”