AIRROC's The Legacy Life

Tom Hodson, President and General Counsel of Genesis Legacy Solutions, LLC, joins us for this episode of The Legacy Life. Tom grew up in a family of reinsurance brokers (G.L. Hodson & Son, anyone?) and has spent much of his career as an insurance/reinsurance regulatory attorney. However, these days, he finds himself doing a lot of marketing. A few years ago, Tom and several of his colleagues set up Genesis Legacy Solutions, an entity that focuses on runoff solutions for small insurance companies, captives and risk retention groups. He has been working hard to grow the business ever since.

When it comes to getting young professionals interested in insurance careers, he notes that the insurance industry could do a better job advertising the exciting opportunities posed by the alternative risk marketplace. “In the alternative risk marketplace, like captives, like risk retentions groups... There’s a lot of creativity that’s happening... It’s an interesting concept trying to solve problems that business people have,” he says. “There are other risks that businesses face on a daily basis that need innovative solutions.”

This podcast is brought to you by AIRROC, the only US-based non-profit association focusing on the legacy sector of the insurance and reinsurance industries. AIRROC serves the industry by providing education, networking, information and data. Learn more about what we do at AIRROC.org or https://airroc.memberclicks.net/
Find more information about AIRROC NextGen at NextGen Task Force (memberclicks.net).
You can also follow us on LinkedIn at https://www.linkedin.com/company/airroc-update/ and https://www.linkedin.com/company/airroc-nextgen-task-force/

Paul Corver stops by to discuss his career in the legacy space. As the Head of Legacy M&A at R&Q, he reviews potential legacy acquisitions in all shapes and sizes from around the world. "...[E]very deal is different," he says while discussing how young professionals could benefit from being in the space. "You could be looking at a portfolio of U.S. General Liability one minute. It could then be French worker's compensation. It could then be a Bermudan captive. It could be an Isle of Man of captive. So many different opportunities. So many different exposures into classes of business that you do develop a very broad knowledge of the industry."

This podcast is brought to you by AIRROC, the only US-based non-profit association focusing on the legacy sector of the insurance and reinsurance industries. AIRROC serves the industry by providing education, networking, information and data. Learn more about what we do at AIRROC.org or https://airroc.memberclicks.net/
Find more information about AIRROC NextGen at NextGen Task Force (memberclicks.net).
You can also follow us on LinkedIn at https://www.linkedin.com/company/airroc-update/ and https://www.linkedin.com/company/airroc-nextgen-task-force/

We have not one but two guests this week: Marty Rosemann, Head of Transaction and Legacy Management, and David Presley, Senior Legacy Origination Manager, both from Swiss Re. Like many of our guests, both started their careers as lawyers and through pure happenstance shifted into legacy reinsurance over time. “We all start there,” David says of the legal profession, “but we end in legacy.”

Working in insurance and reinsurance has led them to different places and exposed them to other cultures they would not have experienced in other careers. “[W]e need to brand ourselves as an industry better, so that people see this as a ‘glamor’ career, not a ‘sit in your cube’ kind of career,” Marty says after reflecting on his time in London and working with his team in South Africa. “I think we do need to be more present as an industry at college campuses, talking about what we do...”

But getting the next generation interested in insurance and reinsurance careers in college might not be enough. “I think we’ve got to think about retention, right? So now, once we get the young people in, how to we keep them?” David asks, noting that there are a lot of opportunities out there for young people today. “[T]he bottom line is, when we go to things like conferences or we’re having these meetings... It’s incumbent upon us to actually bring along the next generation.”

This podcast is brought to you by AIRROC, the only US-based non-profit association focusing on the legacy sector of the insurance and reinsurance industries. AIRROC serves the industry by providing education, networking, information and data. Learn more about what we do at AIRROC.org or https://airroc.memberclicks.net/
Find more information about AIRROC NextGen at NextGen Task Force (memberclicks.net).
You can also follow us on LinkedIn at https://www.linkedin.com/company/airroc-update/ and https://www.linkedin.com/company/airroc-nextgen-task-force/

We are joined by Juliana Toes, an Associate at Mayer Brown, this week on AIRROC’s The Legacy Life.

Juliana is a member of the AIRROC NextGen Council, and we have been keeping her very busy with speaking engagements this year. She has presented at the 2023 Deal Forum, the 2023 Regional Education Day in Chicago, the 2023 Demystifying Legacy event with RE40 in NYC and moderated a panel at the 2023 Summer Membership Meeting. While it may sound like a lot (and it is), Juliana says: “It’s been one of the greatest parts about AIRROC.” She enjoys having “the opportunity to go to different events and... sit down and talk with people, especially having the benefit of...having given one presentation... It’s just another way to...get your name out there, and it also just gives you something to now talk about with other people [at the events].”

If you’re a NextGen professional in the legacy space and presenting to industry leaders at conferences sounds like your cup of tea, get involved with AIRROC NextGen at the link below today! We are always looking for speakers and committee members. Looking for something in a leadership role? Applications for NextGen Council positions will be available for Fall 2023 soon!

This podcast is brought to you by AIRROC, the only US-based non-profit association focusing on the legacy sector of the insurance and reinsurance industries. AIRROC serves the industry by providing education, networking, information and data. Learn more about what we do at AIRROC.org or https://airroc.memberclicks.net/
Find more information about AIRROC NextGen at NextGen Task Force (memberclicks.net).
You can also follow us on LinkedIn at https://www.linkedin.com/company/airroc-update/ and https://www.linkedin.com/company/airroc-nextgen-task-force/

This week we’re joined by Lee Vuu, Vice President of Reinsurance Claims at Argo Group. Lee discusses how she started her career as an Executive Assistant with no reinsurance experience and eventually became a VP of Reinsurance. The secret to her success? “It’s really asking a lot of questions,” she says. And while she asked a lot of questions of her co-workers, she also looked outside her company for learning opportunities. “I saw my reinsurers as a point of contact to learn from them. I asked a lot of questions: what they did, how they do it, what they look at.”

Looking back over her career, Lee notes that “[n]etworking has been a big key for me... All those people that I knew back then--and this is going back to the early 2000s--I still know these people to this day and consider them friends.”

Lee also describes her latest adventure as founder and Board President of the newly launched non-profit for the Reinsurance/Insurance industry called Multicultural Reinsurance Insurance Association. After 2020, she wanted to “build a group that was for likeminded individuals, but for groups that were considered underrepresented.” MRIA also has junior board members who are young professionals getting the experience of running a non-profit years before they would normally have a chance.

Listen now for our full conversation!

This podcast is brought to you by AIRROC, the only US-based non-profit association focusing on the legacy sector of the insurance and reinsurance industries. AIRROC serves the industry by providing education, networking, information and data. Learn more about what we do at AIRROC.org or https://airroc.memberclicks.net/
Find more information about AIRROC NextGen at NextGen Task Force (memberclicks.net).
You can also follow us on LinkedIn at https://www.linkedin.com/company/airroc-update/ and https://www.linkedin.com/company/airroc-nextgen-task-force/