Two Questions with Rob Kreager, Head of the Accident, Health, and Life team on his first two years with Lockton Re.
When Lockton Re’s Accident, Health, and Life team was formed in 2022, Lockton Re’s global relaunch was just a few years old and gaining traction. Two years later, the company has grown exponentially, with this team being one of the key contributors to that rapid expansion. We sat down with Rob Kreager, the Head of Accident, Health, and Life to talk about trends in the market, why clients are choosing Lockton Re, and frankly, to see what he has been up to for the past two years.
Let’s talk about the Accident, Health, and Life landscape, what are the biggest issues clients are facing, and how is your team working with clients to address these complex issues?
The landscape in our segment is facing vast and complex challenges exacerbated by increasing frequency and severity of catastrophic medical claims, game changing gene and cell therapies, as well as the threat of a new pandemic. When we began the build out our Accident, Health, and Life segment our strategy was and continues to be hiring talent that comes from diverse A&H and Life experiences. Bringing in this talent with broad skill sets has been critical to our early success since the clients we work with require strategic partners that can help them navigate very complicated sets of issues related to their capital. Our team now spans talent from carriers and brokers, across sales, underwriting and actuarial.
This won’t come as a surprise, but our team has a strong focus on working with carriers that write Employer Stop Loss (ESL). The ESL market is now more than $30B market. Lockton Re works with ESL carriers of all shapes and sizes in handling their quota share and excess of loss reinsurance arrangements. We have also developed a proprietary reinsurance clinical solution with our retail colleagues at Lockton Dunning. This solution has created a buzz in the market on mitigating drug costs and high-cost claims while keeping reinsurance costs down for ESL carriers. It’s an exciting time in partnership with our retail colleagues.
Clients can work with anyone to mitigate risk, so why your team at Lockton Re, and reflecting on the past two years, what does the future hold?
Something we hear consistently from clients is concern around growth. Our focus is on helping our clients grow first, and working with them whether it is through new distribution arrangements or understanding the way they are underwriting, and truly looking beyond the reinsurance transaction. With the backing of Lockton as a privately held company, we can deliver an elevated client experience, by finding the right talent to maintain a client first culture. The great partners we have, whether it is our clients, markets, or Lockton Dunning, are setting the stage for a year of elevated client experiences and growth. For us, it is not about volume, it is about finding the right clients to partner with, and you can see that in the success our clients are experiencing.
As for me, the past two years have been exciting — our team has seen incredible growth, establishing new capabilities, working with a diverse set of clients in essentially every A&H and Life product line throughout the world. We have added new empowered talent to our team to support this momentum, and because we are fiercely independent, the way in which we work is more agile, making it easy for us to create opportunities for our clients. As we grow, we will continue to prioritize our focus on the needs of clients to ensure we offer market leading reinsurance services for what clients know they need, but also to help them identify areas of opportunity yet to be uncovered.
Learn more about how Lockton Re’s Accident, Health, and Life team can work with you by contacting Rob Kreager at email@example.com (opens a new window) or +1 646 483 2237.