Financier Worldwide profiled Senior Vice President, Chloë Steadman as one of their Power Players – Exceptional Experts of 2022. See below for Chloë’s profile and a Q&A between her and Financier Worldwide.
Chloë Steadman is a senior vice president and an underwriter for Euclid Transactional. She is responsible for underwriting representations and warranties insurance policies for M&A transactions along with contingent liability insurance policies. Prior to joining Euclid Transactional, she was a business and finance attorney at Ballard Spahr, LLP, where she advised clients on M&A and corporate finance matters. She received her JD degree from Arizona State University in 2016 magna cum laude, Order of the Coif and obtained her BA in political science from the University of Arizona in 2013, magna cum laude.
Q&A With Chloë Steadman
Looking back, have you fulfilled the ambitions and aspirations you set for yourself early in your career?
Not exactly. When I started my career, the representations and warranties insurance (RWI) space was in its infancy, so it was not on my radar. I had not set out to pivot from a law firm associate to an underwriter – but I am glad I did, because I always found the business aspects of a deal most intriguing. While my specific goals and aspirations have changed since I started my career, I have always known that achievements are most fulfilling when accomplished with colleagues you care about and respect. For me, the reward of my work is less about substance or subject matter and more about the partners and colleagues with whom I am sharing the successes. I am lucky to have found unique camaraderie and support with Euclid, and I am proud of the milestones we have hit together.
In what ways do you endeavour to support the career development of your colleagues rising through the ranks?
I often remind myself that I am only where I am because of the time and energy my mentors and bosses invested in me. I try to remember that when thinking about how I can help newer colleagues in their development. Sometimes that means taking the initiative in providing feedback, and sometimes it means being available to answer questions or provide support when others are not. There is a big focus at Euclid around fostering a supportive and non-judgmental environment that encourages asking questions and collaborating on approaches and strategy. This may not come as a huge surprise, but RWI can be a lot more engaging if you are able to bounce ideas off others. Maintaining an environment open to new ideas and voices also gives newer colleagues the space and opportunity to learn and grow.
“This may not come as a huge surprise, but RWI can be a lot more engaging if you are able to bounce ideas off others.”
What strengths and characteristics do you, your team and your firm strive to demonstrate to clients?
Like most industries, the key to our success is customer service, and this starts with a consistently excellent product. We execute at every level of service. That means each team is held to the same consistently high standard, be it underwriting, claims handling or broker engagement. Maintaining this standard requires laser focus on detail at every level, and Euclid delivers by providing rapid turnaround times, around the clock service, and a hoop-free, streamlined process. We want people to work with us because we can provide the most efficient, well executed, commercial approach. We are lucky to be led by industry veterans who have learned what works and have been effective at communicating expectations companywide.
- Underwrote a multibillion-dollar acquisition of a nuclear power plant services company.
- Underwrote a multibillion-dollar acquisition of an industrial services company.
- Underwrote a multibillion-dollar acquisition of a specialty insurance managing general agent.
- Underwrote a multibillion-dollar acquisition of a sunglasses company.
- Underwrote a contingent liability policy for a small business association risk.