Wayne Murphy

Recruited by a prominent global Managing General Agent (MGA) to spearhead the development of an aviation portfolio and drive the regional expansion of the company. Collaborating closely with Heads of Business Lines, I focused on cultivating cross-selling opportunities while concurrently overseeing the strategic initiative for the establishment of a regulated entity.

Key Contributions and Responsibilities:
• Orchestrated the development of a comprehensive portfolio for global aviation business, with a strategic emphasis on tier 2/3 airlines, general aviation, and aerospace.
• Executed targeted marketing strategies for both the MGA and associated carriers within the GCC, effectively raising awareness of our product offerings.
• Proactively fostered in-depth industry expertise among carrier teams, conducting training sessions and addressing ad hoc inquiries to ensure a proficient understanding of the markets served.
• Formulated collaborative partnerships with multiple carriers to craft dedicated portfolios and tailored reinsurance arrangements, aligning with specific client needs.
• Assumed a leadership role in recruiting and training new team members, contributing to the expansion of a high-performing and knowledgeable workforce.
• Implemented transformative enhancements to existing IT systems and workflow processes, optimizing operational efficiency for the integration of new lines of business.

This role not only demanded strategic vision but also required a hands-on approach to successfully navigate the intricacies of the market and GCC environment. The combination of portfolio development, market awareness initiatives, team leadership, and technological enhancements collectively contributed to the advancement and success of the company's aviation business endeavours.

Deputy CEO (Jan 2016 to Jun 2020)
Trust Insurance Management (TIM), an Managing General Agent (MGA) and a Coverholder at Lloyd's, collaborating extensively with Trust Re to underwrite a diverse range of classes in the Energy, Property, and Specialty lines. Empowered with underwriting and claims authority, our team excels in navigating various complexities within these sectors.

Key Contributions and Responsibilities:
Overseeing Day-to-Day Operations:
• As a leader at TIM, I took charge of overseeing the day-to-day operations, ensuring seamless and efficient functioning.
Development of Lines of Business with Coverholder Agreement:
• Instrumental in the strategic development of various lines of business through effective Coverholder agreements.
Ensuring Compliance:
• Played a pivotal role in ensuring strict compliance with the requirements outlined by capital partners and Lloyd's, adhering to the highest industry standards.
Development and Enhancement of Underwriting Guidelines and Standards:
• Led initiatives to continuously develop and enhance underwriting guidelines and standards, keeping them in alignment with industry best practices.
Leadership in Special Projects and Business Development:
• Actively led special projects, leveraging expertise in business development to explore new opportunities and avenues for growth.

At Trust Insurance Management, our commitment extends beyond routine operations, emphasizing innovation, compliance, and strategic development to maintain a competitive edge in the insurance landscape. My role encompassed a holistic approach, ensuring that every aspect of our operations contributed to the overall success and sustainability of TIM within the dynamic insurance market. Through my initiative when Trust Re lost its rating, TIM was instrumental in ensure Trust Re was able to continue trading.

Recruited to spearhead the development of an aviation portfolio and contribute to the regional growth of the company, my role as the Head of Aviation involved collaboration with facultative and treaty colleagues. During this period, I played a pivotal role in shaping the aviation line of business while concurrently overseeing strategic projects.

Key Contributions and Responsibilities:
Portfolio Development:
• Led the development of a comprehensive worldwide aviation portfolio with a strategic focus on tier 2/3 airlines, general aviation, and aerospace.
• Conducted a deep dive on the regional treaty portfolio, implemented new business plan/ guidelines to improved profitability, made personnel changes were required.
Regional Expertise and Support:
• Collaborated closely with regional offices, providing specialized expertise and underwriting support for sourced Marine & Aviation business. Ensured consistent quality and adherence to underwriting standards.
Reinsurance Program Management:
• Orchestrated the development and purchase of a reinsurance program for the Global General Aviation portfolio. This initiative not only brought net retention within group tolerances but also increased the capacity available to underwriters.
IT Systems Enhancement:
• Played a crucial role in enhancing existing IT systems and workflow processes tailored for the marine & aviation line of business. This included optimizing operational efficiency and ensuring global standards were maintained.

My tenure as the Head of Regional Operations/ Aviation was characterized by a strategic approach to portfolio development, ensuring operational excellence, and leveraging technology for enhanced business performance. The successful implementation of these initiatives contributed significantly to the growth and success of my teams within the wider company.

Business development/ programme manager consultant, focusing on supporting the aviation insurance Industry. Target clients were primarily existing or potential aviation insurance companies. Supported a Lloyds syndicate with a one-year project to stabilise their existing portfolio, conducted a strategic review and presented options to the board. Developed exit strategy using reinsurance solution to crystalise profits.

In the aftermath of the acquisition of GE Insurance Solutions Re by Swiss Re, I assumed the role of Head of General Aviation and Aerospace (GA & Ae). My primary focus post-integration was optimizing the combined group's potential. For the General Aviation sector, this involved an innovative strategy to expand the portfolio significantly. Despite initial challenges, such as internal stakeholder alignment and opposition from the Aviation Reinsurance team, we secured board approval for a 5-year growth plan in 2008.

Key Contributions and Responsibilities:
Key achievements between 2008 and 2013 include:
• Growth of the GA & Ae portfolio from $45 million to $158 million, maintaining an impressive average combined ratio of 80%.
• Establishment of new offices in Toronto, Munich, Singapore, New York, and Dubai, along with an MGA in Australia.
• Temporary relocation to Sydney in 2010 for three months to complete an acquisition, positioning Swiss Re as the second-largest player in the domestic Aviation market.
• Successful evaluation and execution of the acquisition of GCAN (Canada) portfolio from RSA in 2012.
• Personal relocation to New York in 2011 to oversee the establishment of the US team, ensuring hands-on involvement in the largest GA market.
• Key Responsibilities:
• Leadership of a team comprising 21 underwriters and 2 MGAs across seven countries.
• Oversight of the GA Growth Initiative, a core growth initiative reporting to the Management Board.
• Functioning as a Level 4 Underwriter, setting underwriting standards, approving large deals, and handling referrals for complex risks.
• Membership in the Specialties Exec Management Team and an "Approved Person" by FCA until 2011.
• Active training of new underwriters in the US while underwriting a cross-section of the portfolio during team development.
• Development and purchase of a reinsurance program for the Global GA portfolio, optimizing net retention within group tolerances.
• Implementation of IT systems and workflow processes for new offices while maintaining global standards.
• Promotion of cross-selling with other lines of business, enhancement of broker platforms, and management of client and broker relationships.
• Notably, I conducted various client presentations, including a speech at Lloyd's Old Library for IIL.