Cincinnati Financial (CINF) announced that James W. B. Hole will join The Cincinnati Insurance Company on May 4 as Managing Director, Head of Reinsurance Assumed. He will report to Chief Risk Officer and Senior Vice President Teresa Cracas.

Hole will apply his reinsurance expertise to investigate opportunities to expand the company’s assumed reinsurance – a relatively small line of business for the company since the 1990s.

His charge is to build internal capabilities to assess, quantify, price and manage assumed reinsurance risk.

A graduate from Franklin and Marshall College, Hole brings more than 20 years of experience in property casualty reinsurance.

Since 2013, he was managing director of Global Business Development for JLT Re and a member of the Global and North American Executive Committees. Prior to the acquisition of Towers Watson’s reinsurance business by JLT, Hole was global managing director of Sales and Practice Development at Towers Watson for its reinsurance, risk consulting and software businesses.

President and Chief Executive Officer Steven J. Johnston commented, "It’s the right time to prepare for future opportunities with assumed reinsurance. This line of business gives us the opportunity to diversify our risk, which should help smooth the volatility of our results over the long term.

"JLT Re has been gracious in working with us to achieve a smooth transition. We appreciate their support, and Jamie and I both look forward to continuing our strong relationship with them as we build our assumed reinsurance business."

Cincinnati Financial offers business, home and auto insurance, our main business, through The Cincinnati Insurance Company and its two standard market property casualty companies.