OAK Reinsurance (OAK Re) has announced several new appointments as the company continues to grow its team following the launch of its underwriting operations earlier this year.
With these additions, OAK Re's workforce now stands at nearly 40, with plans for further expansion through the remainder of the year.
Tom Dickson (pictured above) has been named president, innovation strategies, and is set to join the company from New Energy Risk, where he served as CEO. His appointment remains subject to UK visa approval. Meanwhile, Roland Morse will take on the position of managing director, London, joining from Guy Carpenter.
Karen Barker has been appointed credit underwriter. She joins from Axis Capital, where she spent seven years and held the role of Senior Underwriter. Barker will be responsible for leading the underwriting of credit classes at OAK Re.
In addition, Deepon Sen Gupta has joined the firm as head of capital partnerships. He previously served as group chief strategy officer at Neon and was a founding board member at Beat Capital.
Cathal Carr, CEO and founder of OAK Re, said the company’s development since it began underwriting has progressed significantly, highlighting its start and subsequent approval from Lloyd’s in April for an expanded business plan.
“The strong reputation that we have already established for extensive underwriting expertise combined with science and data-driven analytics is underscored by the caliber of new team members joining us,” Carr said.
OAK Re’s launch, approved by Lloyd’s in November, was supported by capital from Bain Capital and Hampden Agencies, with Polo Managing Agency providing turnkey services for Syndicate 2843.
Initially targeting $300 million in gross written premium (GWP) for its first year, OAK Re surpassed expectations in the first quarter of 2025. Consequently, Lloyd’s approved an increased business plan, raising the 2025 GWP target to over $400 million.
To enhance its risk modeling capabilities, OAK Re also partnered with Moody’s in December. This collaboration involves integrating Moody’s Intelligent Risk Platform, including tools like Risk Modeller and ExposureIQ, to provide comprehensive risk assessments across various threats, such as cyber, terrorism, and climate change.
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