100 influential women in re/insurance
What has been
the
biggest
challenge
you have
encountered? Every business, no matter how successful, faces challenges. I have always felt it to be of the highest importance to work with others on whose ethics, standards and capabilities I could rely in difficult situations. That is how you’ll come to resolution with the best possible results. The board and management members of RenaissanceRe are the kinds of people in whom I can have the highest degree of confidence. The challenges with which I have had to deal have resulted from
Name: Jean Hamilton
Company: RenaissanceRe Job:
Board of directors, private investor independent consultant
Timeline: 2005—Board of directors, RenaissanceRe 1998 to 2002—CEO, Prudential Institutional
Jean Hamilton has been on the board of directors of RenaissanceRe since June 2005, and is a Class I director. She is an independent consultant and private investor, and also a member of the Brock Capital Group. From 1988 to 1998, she held various positions with Prudential Financial, including president of the Prudential Diversified Group and President of the Prudential Capital Group. From 1971 to 1988, she held several positions with The First National Bank of Chicago, including senior vice president and head of the Northeastern Corporate Banking Department. She is currently a trustee of First Eagle Funds and First Eagle Variable Funds.
What has been the highlight of your career so far? I have been lucky enough to be involved in a variety of businesses, both as a board member and as a leader. The highlight for me, in every instance, has been to be a part of the success of a company, its shareholders and its people. In recent years, I have had the honour of being on the board of RenaissanceRe, a proven leader in its industry with an excellent culture and returns and extremely bright, committed people. The creativity, passion, and results-oriented approach of the RenaissanceRe people make my role as a board member a pleasure. At Prudential Financial, I was responsible for evaluating and
operating insurance, banking, financial services and real estate businesses to determine their strategic fit and profit potential. We were able to successfully implement a variety of plans to optimise the value of these businesses. These plans included internal growth, mergers, start-ups, restructurings, sales and discontinuations of various businesses. Working with the people in all of these businesses to ensure their own success, as well as that of their companies, was most definitely a highlight.
50 | INTELLIGENT INSURER | 2015
a variety of causes, but in each case, it has been the impact on the people of the company that has been the most difficult. Very generally, the sources of problems have included poor business models, industry changes with negative impacts on a business, unacceptable business results, and regulatory issues. These problems waste the potential of a company and inevitably hurt its people. My goal is always to help the business to improve its results, which
gives people a chance to contribute and enjoy personal success. But, unfortunately, some of the changes made in a company may result in people losing their jobs. When this happens, the challenge is to ensure that those leaving the company are respected and aided.
What are your career aspirations now? My career aspirations are a continuation of what
they have
always been, helping companies to be successful thereby ensuring that shareholders make good returns and that the members of the companies can contribute and achieve their goals. In short, it is a matter of building businesses so that there is a win for all parties. For me this is a very creative and satisfying process. In the reinsurance industry, challenges have arisen from changes in supply and demand, the ways in which clients are thinking about risk management, the globalisation of markets, and governmental regulation. All of
this adds up to the need for reinsurance
companies to be very good at determining their strategies, and this process will not be easy. I have tremendous confidence that RenaissanceRe will continue
to be an important leader and innovator, the company that turns these challenges to its benefit. My aspiration is to support the company in its achievement of these goals. Another aspiration is to see more women involved in the
reinsurance business. There are several initiatives that I think will be very valuable in this regard, and networking is a key component. RenaissanceRe has a terrific organisation called the Women’s Forum open to all employees, designed to build networking within the company and provide exposure to the thinking of people in the industry, by inviting internal and external speakers. Very recently, some women who are board members of reinsurance companies have begun to get
together. We are just in the early stages of
identifying all the women directors and senior managers in the industry, but I am pleased to say that there are quite a few more than there were even a year ago. I believe that we will be able to create a network that will provide valuable support both for women directors and for members of the companies on whose boards we serve.
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