Re Names Tim McDermott Head of Property and Multiline
Re Names Tim McDermott
Head of Property and Multiline
Re is excited to welcome Tim McDermott as head of property and multiline.
Tim joins Re from ERGO NEXT, a commercial insurer known for advanced machine learning and AI-enabled automated underwriting. He was responsible for the financial performance of their commercial property and casualty insurance portfolio spanning several lines of business.
Prior to his employment with ERGO NEXT, Tim spent more than a decade at Munich Re, one of the world’s leading reinsurers. At Munich Re, he built and managed partnerships with both technology-focused and traditional insurance businesses, providing the reinsurance backing to support profitable growth.
Tim is a Chartered Property Casualty Underwriter (CPCU) and Associate in Reinsurance (ARe).
Tim’s Role at Re
Tim will oversee how Re’s reinsurance company (Cover Re) evaluates and takes on property and multiline insurance risk. Multiline covers insurance portfolios that bundle multiple lines of business into a single treaty.
Tim will be responsible for constructing Re’s reinsurance portfolio across these lines and structuring the capacity it provides, with a focus on deepening relationships with insurers and MGAs.
“Property and multiline are already a core part of what we write, and Tim is here to help us do a lot more of it without lowering the bar on the risk we take on. That’s what we’re excited about: more capacity for our partners, backed by the kind of judgment depositors want deciding where their capital goes.”
— Karn Saroya, Re CEODisclosures
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