HSB Appoints Jeffrey O’Shaughnessy to Lead Reinsurance Portfolio Business
- O’Shaughnessy Succeeds Tony Trivella as Head of HSB’s Treaty Division
- Products Include Equipment Breakdown, Cyber, EPL Insurance
- HSB Provides Reinsurance for Over 200 Partner Insurance Carriers
Digital Solutions to “Future Proof” Client Businesses
HARTFORD, Conn.–(BUSINESS WIRE)–#HSB–HSB announced today that Jeffrey O’Shaughnessy has been appointed to lead the company’s Treaty Division, which oversees reinsurance relationships with almost 250 client insurance companies, succeeding Tony Trivella, who is retiring after 40 years of service with HSB.
O’Shaughnessy, HSB senior vice president, will report to Greg Barats, president and chief executive officer of HSB, part of Munich Re. Trivella will work closely with O’Shaughnessy until the end of this year to ensure a seamless transition for HSB clients.
“I’m confident we will continue to grow and help accelerate HSB’s product innovation given the solid foundation that Tony has built and Jeff’s new leadership,” said Barats. “Our value proposition is to deliver successful outcomes for our insurance partners and customers that will help ‘future proof’ their business. Jeff’s experience and his focus on preventive measures and digital solutions will help our clients respond to today’s emerging risks.”
O’Shaughnessy, who assumed his new responsibilities October 5, 2020, has been HSB global chief underwriting officer since 2017. He joined HSB in 2002 and worked in the Treaty Division for 10 years as a product manager and the division’s chief underwriting officer.
“We envision a world where we can predict and prevent claims from ever happening,” said O’Shaughnessy. “We will continue to focus on enhancing and innovating HSB’s products to achieve that vision – technology, services and data will all be key focus areas.”
Trivella was named executive vice president for the HSB Treaty Division in 2005. Starting with HSB as an underwriter in 1980, Trivella has held numerous positions around the United States serving HSB’s client insurance and transactional business.
“Our success is largely attributable to the consistency of our team with many members working with the same clients for a number of years,” said Trivella. “They have an in-depth knowledge of our customers’ strategies and objectives to help meet their needs.”
The HSB Treaty Division offers a variety of equipment breakdown, cyber, employment practices liability and other specialty reinsurance products on a portfolio basis, providing millions of insurance policies for small and middle market businesses, institutions, homeowners and farms.
Hartford Steam Boiler (HSB)
HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
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