Southport Lane, a private equity firm, has selected Jim McNichols as chief actuarial officer of its reinsurance group, Southport Re.
McNichol, in the new role, will support reinsurance, underwriting services and directing quantitative risk analytics, as well as Southport Re's enterprise-wide risk management processes.
Prior to accepting the current role, McNichols worked as a consulting actuary for Aon, and managed dynamic risk modeling projects for insurance companies and large corporations.
McNichols responsibilities at Aon included, offering advice on risk pricing, capital structures, maximizing risk-adjusted returns and asset-liability portfolio optimization, the company said.
Before Aon, McNichols held several executive positions at XL Capital, including chief actuary and chief operating officer of the Financial Guaranty Division.
Southport Re CEO Glenn Weber said Jim's ability to synthesize insurance risk and capital market risk, combined with his modeling expertise, will help in creating a profitable insurance and reinsurance platform.
"The Southport platform was developed to operate within specific volatility parameters, and Jim will be crucial in achieving that goal as we grow," Weber added.
Founded in 2010, Southport Lane is a private equity firm that focuses on investments in insurance and reinsurance companies.
