McDermott, who is based in the company’s Philadelphia office, is responsible for expanding the company’s presence in the P&C insurance market, with a primary focus of helping Towers Watson’s clients better understand and address the many complex issues that arise in an acquisition.
“We look to Sean’s extensive M&A due diligence experience within the financial services marketplace, as well as significant global insurance and reinsurance experience, to further our client-focused efforts in this area,” said Bruce Fell, leader of Towers Watson’s P&C risk services in the Americas. “Sean’s considerable knowledge of commercial lines rate adequacy, profitability analyses, primary company and reinsurance loss reserving, financial reporting and operations, will serve our clients very well.”
Prior to joining Towers Watson, McDermott was executive vice president & chief actuary for AXIS Insurance, where he coordinated worldwide actuarial services. He has domestic and international experience in all major casualty, professional and property lines of business, and was a member of the AXIS Insurance management team. Before joining AXIS, McDermott was senior vice president & actuary at American Re-Insurance (now Munich Re).
About Towers Watson
Towers Watson is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of employee benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at www.towerswatson.com