Legal & General’s (L&G) retail business has named Donna Cowell (pictured above) as head of reinsurance, UK Protection, a newly established position.
Cowell will oversee reinsurance strategy across both the retail and group protection segments, reporting to Pippa Keefe, commercial director of retail protection.
In her new role, Cowell is tasked with advancing L&G’s protection strategy. She will work with reinsurers to enhance customer value through the company’s risk management expertise, distribution capabilities, data resources, and industry experience.
Cowell is a qualified actuary with nearly 25 years in financial services. She joins L&G from Willis Towers Watson, where she served as a director in the life insurance consulting and technology division, focusing on protection and reinsurance.
Her appointment also comes at a time when the UK reinsurance market has been characterized by heightened competition and a greater emphasis on cycle management. Over the past year, managing general agents (MGAs) have increasingly relied on their customer insights and technological capabilities to navigate market cycles and maintain profitability.
This shift has allowed MGAs to identify new opportunities and strengthen their relationships with policyholders, even as broader market trends have been influenced by developments in the US catastrophe sector.
James Shattock, managing director of UK Protection at L&G, said the appointment of Cowell demonstrates the company’s commitment to a coordinated and resilient reinsurance approach across both Retail and Group Protection.
“With the recent creation of the UK protection reinsurance team, Donna’s appointment represents L&G’s ongoing commitment to delivering a joined up, effective and resilient reinsurance offering across both our retail protection and group protection businesses,” Shattock said.
The evolving regulatory landscape has also shaped the strategic priorities for reinsurance leaders like Cowell. The rollout of Consumer Duty and other regulatory changes over the past year have prompted calls within the industry for streamlined compliance and a stronger focus on competitive advantage, particularly for larger commercial clients.
These developments have led many insurers and MGAs to reassess their compliance processes and adapt to new expectations from regulators.
At the same time, MGAs and insurers have been diversifying their product offerings in response to changing market dynamics. There has been notable growth in niche segments such as renewables, cyber, and transactional liability, as firms seek to reduce reliance on single product lines and address systemic risks.
This trend toward diversification has become more pronounced as the market matures, with many organizations exploring both new product classes and geographic expansion to better serve their clients and manage risk.
