Meet John Lummis
Executive Vice President of Capital and Risk Management
John Lummis joined SageSure in August. Read more about his new role here.
While working on the successful turnaround of USF&G in the 90s and witnessing the positive impact of a creative and driven management team in building a new culture and financial success, John Lummis found his career in insurance. Then he worked with RenaissanceRe from its formation in 1993 until 2006, generating the highest ROEs in the worldwide reinsurance market during many of those years. “I saw the value of creativity — bringing together quantitative tools and an organization that had a strong underwriting culture and great attention to the customer,” John said about his formative years in the insurance industry. Learn more about John and what he’s excited about at SageSure.
What do you bring to the SageSure leadership team?
I’ve worked in the property and casualty space for 30 years with experience in senior executive, advisory and investment roles, including previous positions as the CFO and COO of RenaissanceRe and CEO of AQR Capital Management. More recently I’ve been an advisor to Nyca, a leading FinTech venture capital fund and also Pelican, an investment fund focused on insurance.
Why is your new role so important for SageSure’s future?
SageSure has built a great platform for writing catastrophe exposed homeowners insurance. As we grow with our insurance carrier partners, we want to be as effective as possible in helping to manage the overall risk of an insurance portfolio relative to available capital. This is a money issue: Too little capital relative to risk can lead to dislocations in the business — and too much capital can lead to poor economics as well.
What sets SageSure apart from other companies you’ve seen in your 25 years of experience in the P&C insurance industry?
Given such a large-scale business, SageSure has maintained an entrepreneurial culture — moving quickly where opportunities or challenges require fast action. SageSure has also been adept at using technology effectively, with real insight into the needs of the insurance marketplace.
What do you do for fun?
I enjoy outdoor sports with my friends and family in Jackson Hole — hiking, climbing, skiing inbounds and backcountry, and a bit of biking.
Describe yourself in three words.
Thoughtful, curious, adventurous
What career/life advice would you give your 25-year-old self?
Try to bring value to your relationships — whether in business or personal life — with sensitivity to the needs of each relationship.