Event: Risk Managing Risk Takers, A Talk by Tom Bolt
Date: Friday, October 4
Time: Program Begins at 12:30pm
200 South Wacker Drive, 4th Floor
The International Association of Financial Engineers is pleased to endorse
A Luncheon Talk
Director of Performance Management, Lloyd's of London
In his job as Performance Manager of Lloyd’s of London, the historic insurance market, Tom is responsible for Risk Management among a set of independent non-employee risk takers – the syndicate underwriters. Tom will discuss the challenges of this task and reflect upon the changes that are flowing through the insurance and reinsurance industry.
About Tom Bolt
In the early 1990s Tom was lured away from Bankers Trust, where he had created a highly successful insurance division, by Berkshire Hathaway to set up and run the European arm of Berkshire Hathaway’s reinsurance operation based in London.
Working as a trusted lieutenant for Warren Buffett taught him to concentrate on “doing what makes sense”. “At Berkshire they wanted you to have a sense of urgency; worried about what it was you were doing to make money each day. They had very little regard for corporate hierarchy and they tended to take people as a package.”
On January 1, 2010 Tom Bolt took over as Director of Performance Management at Lloyd’s of London.
He is known in the insurance market for his incisive intelligence, keen business sense and easygoing charm. During his 25 years in the business Bolt has done everything from trading insurance derivatives to underwriting both life and property-casualty reinsurance. He built up a “run-off” operation with a portfolio worth £6.6bn and also managed a Lloyd’s agency for nearly a decade.
Lloyd's of London
Lloyd’s of London is a British insurance and reinsurance market. It serves as a meeting place where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool, spread and price risk.
[NB: For the unfamiliar, Lloyds of London is not to be confused with Lloyd’s Bank PLC. They are not related.]