Spotlight on Actuary Shauna McGrath

Shauna McGrath, a leading actuary at Willis Re in EMEA, shares her insights on her current role and how she ended up in it. She currently leads the Actuarial and Customised Solutions teams, creating and transacting strategic reinsurance solutions. McGrath’s client management experience enables her to create initiatives to enhance the company’s offering in analytics and customized solutions.

Prior to joining Willis Re, McGrath worked as a capital actuary at Faraday, a Lloyd’s syndicate, where she gained a deep understanding of the key risks underlying an insurance provider and how this translates to reinsurance and capital management.

The defining moment in McGrath’s career was taking a risk and moving into a non-actuarial role, leaving her comfort zone to take on a fresh challenge in a client-facing position. Broking has been the perfect fit, as she still utilizes her actuarial skillset in a non-traditional way.

McGrath’s experience in risk and capital has prepared her well for her current role, giving her a deeper appreciation for the insurer’s position and allowing her to advise clients on their risk and capital considerations relative to their reinsurance strategy.

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Communicating complex ideas in a simple and effective way is often challenging, but it’s a skill that McGrath must refine. She faces the challenge of not only refining this skill as an individual but also developing it in others, creating a culture where this is the norm.

Her actuarial training and background assist her in her day-to-day role, giving her the ability to analyze technical information and financials of a company and use her problem-solving skillset to best help clients with their reinsurance decisions.

As she looks to the future, McGrath notes that the ability to adapt and evolve will be essential for actuaries, as the industry continues to shift and new challenges emerge. By staying ahead of the curve and being open to new opportunities, actuaries can position themselves for success in a rapidly changing market.

McGrath first joined the Institute & Faculty of Actuaries in 2009 and advises students to take advantage of any opportunity to get out of their comfort zone, as it will always pay off. She also emphasizes the importance of attending events and networking, as these provide access to a breadth of information and ideas and the opportunity to meet industry legends.

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McGrath says she might have considered a career in medicine, particularly surgery, although she notes this might be influenced by her love of the TV show Grey’s Anatomy.

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As the insurance industry continues to evolve, McGrath’s unique blend of actuarial expertise and client-facing experience makes her a valuable asset to Willis Re and a role model for aspiring actuaries.