Mr. Robert Omahne
Former President, ACE FINANCIAL SERVICES, INC
Member of the Insurance Council
Council Member Biography
Robert Omahne, was until late 2004, the President of ACE Financial Solutions. He was responsible for the development of financial risk insurance products, as well as leading the ACE INA movement to address the convergence of finance and insurance. Mr. Omahne has over 26 years of experience in the insurance and banking industries and is an expert in the creation of innovative risk financing solutions. He has been the EVP and Chief Underwriting Officer of AIG Risk Finance and President of AIG Financial Institution Group. Mr. Omahne's contributions at AIG include the generation of over $4 billion of gross premium through the creation of a variety of financial, risk financing, risk management, insurance and credit enhancement initiatives. Previously, he was the Director of Underwriting at Great American Insurance Company and the Vice President of Underwriting at MGIC Indemnity Corporation in addition to senior appointments at First Wisconsin Corporation and Western Employers Special Risk. (This is me - Update Profile)
Employment History
- 2000 - 2004
- President, ACE FINANCIAL SERVICES, INC
- 1995 - 1999
- Executive VP, AMERICAN INTERNATIONAL GROUP, INC.
- 1992 - 1995
- President, AIG - Financial Insurance Goup
- 1992 - 1995
- President, AIG - Financial Insurance Goup
- 1981 - 1992
- SR - VP & Director of Underwiting, Great American - Executive Liability Division
- 1979 - 1980
- VP of Underwiting, MGIC INDEMNITY CORP
GLG NewsSM Analyses by Robert Omahne(?)
Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
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The Battle for Federal versus State Regulation
May 16, 2006
Insurers Brace for Policy Fight | online.wsj.com
Sen. John Sununu is attempting to introduce a Bill that would create a single optional federal insurance regulator under the Department of the Treasury thus allowing an insurance company to choose between a national regulator rather than a patch work of individual state regulators. Under the current 155 year old system an insurance company is required to file both rate and forms with each state for review and approval before they are able to offer coverage. This process in many instances unnecessarily delays the introduction of new products for up to a year or more as an insurance company deals with each state’s individual requirements as to rate and form. In other instances state imposed price controls have prevent insurers from pricing to market conditions that have resulted in insurers withdrawing from unprofitable markets.
The move to national regulation is being opposed by small insurance companies, small insurance agents and of coarse state insurance regulators. Their argument is that one price and policy does not fit all and that insurance remains a very area specific product that is better supervised locally.
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May 15, 2006
Housing Market to Weaken Even Further as Mortgage Industry Takes Cure | online.wsj.com
Insurers are heading into in this hurricane season better prepared to “weather the storm”. A interim halt in the industry’s ever reoccurring slide into a so-called “soft market” has allowed insurers to get price increases in some lines of insurance, retain satisfactory pricing in others and put into practice other risk management tools to lessen exposures has given many insurers the ability to protect their balance sheets and build surplus to deal with this year’s catastrophes.
Leading institutions connect with Robert Omahne through GLG
GLG Study Groups with Robert Omahne(?)
| Study Group Name | No. Members |
|---|---|
| Experts in the Leisure & Lodging Council | 4887 |
| Experts in the Automotive Council | 3422 |
| Personal and Commercial P&C Insurance Brokers | 742 |
| Structured Finance Experts | 382 |
| Council Members Knowledgeable on Mortgage Guaranty Insurance | 202 |
GLG Live Meetings with Robert Omahne(?)
Robert Omahne has not participated in any GLG Live Meetings.