Women in reinsurance
PrOFILE Name:
Cory Anger
Company: GC Securities Job:
Global head of ILS Structuring Timeline: 2008—Global head of ILS Structuring
1999—Senior vice president, Lehman Brothers
1994—Office of the Comptroller of the Currency
Cory Anger is global head of ILS Structuring at GC Securities (a division of MMC Securities Corp, a US registered broker-dealer and member FINRA/NFA/SIPC), the investment banking division of Guy Carpenter & Company. She has been involved in ILS since 1999.
Prior to joining GC Securities in May 2008, she was senior vice president at Lehman Brothers in the Insurance Products Group, where she spent more than eight years originating and structuring insurance solutions for the P&C and life insurance sectors. Before she joined Lehman Brothers, she worked in credit risk management at Merrill Lynch and the risk analysis division at the office of the Comptroller of the Currency (regulator of national banks).
Anger says the highlights of her career so far all surround completion of “first of its kind” innovative transactions.
“For example, in 2004, I completed a unique contingent capital transaction for an energy insurance mutual insurer, sEnergy Insurance,” she says. “It was critical in providing additional capital to support their new operations. Fast forward to 2013 and there were two transactions that have been very rewarding: the completion of a catastrophe bond to manage earthquake risks in the Istanbul region (which I had been exploring and discussing since 2001) and the completion of the first ever storm surge catastrophe bond.”
She says her biggest challenge has been—and continues to be— balancing her work and her personal life.
“To achieve my professional success, I’ve always tried to be the most knowledgeable and most accessible person (ie, the expert) who will work the longest hours and be willing to travel no matter what. However, that comes at a cost in the time available to my personal life, particularly because I have two children aged under six.
“Nevertheless, meeting the demands of a personal life has helped me to become more efficient with my work, better identify where to apply resources and build a team to leverage the work product—all skills that are needed in senior management.”
Anger’s current career aspiration is to lead the expansion, acceptability and application of alternative capital markets-based risk transfer capacity to corporations, insurers and reinsurers; to bring new perils/risk classes to capital markets investors; and to innovate new structures to assist cedants in best achieving their goals and demonstrate that GC Securities is one of the top providers of capital markets services for insurance risk transfer.
6 | INTELLIgENT INsUrEr | May 2014
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