Mr. O’Farrell is the co-founder and Chief Executive Officer of Premia Holdings Ltd., a Bermuda based holding company focused on providing solutions to companies looking to sell or reinsure their run-off portfolios. He raised over $500mm of capital to form Premia in 2017 and it was promptly named start-up and launch of the year by the Intelligent Insurer and Reactions Magazine, respectively. Premia has since assumed over $1.25 billion in reserves and now has operations in Bermuda, the U.S. and Europe. In 2018, Premia also acquired Alan Gray LLC, a 30-year old, 65-person strong claims, auditing and risk advisory firm.
Prior to joining Arch Capital Group in 2016 as Executive Vice President to form Premia, he served as Chief Reinsurance Officer of Chubb Limited (previously known as ACE Limited) for over a decade. In this role, he had global responsibility for one of the largest and most complex ceded reinsurance programs in the world, along with managing the company’s $14 billion reinsurance recoverable asset. He also chaired the firm’s Global Reinsurance Security Committee and was a member of its Global Credit Committee. He also previously served as Chairman of Brandywine Holdings, ACE’s $5 billion run-off operation.
Prior to joining ACE, he served as Vice President and Legal Counsel with Berkshire Hathaway’s Reinsurance Division for over a decade, where he held several senior positions, including serving as a board level director of various operating subsidiaries.
Along with his traditional reinsurance background, he has broad capital markets experience including cat bonds, side cars and he developed the structure and played a key role in the launch of ABR Re, an independent reinsurance company jointly sponsored by ACE and BlackRock Inc. in April 2015.
Mr. O’Farrell holds a B.S.B.A. and J.D. from Creighton University. He attended Creighton on an Army ROTC scholarship and served as a Second Lieutenant in the U.S. Army in Saudi Arabia and Kuwait during Operation Desert Storm in 1991.