Hamilton Insurance Group has chosen a Munich Re executive as its next chief executive officer.

Pina Albo will become CEO of the Bermuda-based insurer and reinsurer on Feb. 1, 2018, replacing Interim Group CEO David Brown. Brown has been in that slot since Brian Duperreault left in May to become CEO of American International Group.

A Hamilton spokesperson told Carrier Management in September that the announcement of a new CEO was likely in the 2017 fourth quarter.

Pina Albo/Hamilton Insurance

Currently, Albo is a member of Munich Re’s Board of Executive Management, where her responsibilities have included P/C business and operations in Europe and Latin America. She’s been at Munich Re for 25 years, having started there as a claims expert, and has served in various senior management roles over that time.

Albo, who began her career as an attorney in Toronto, Canada, said she has paid close attention to Hamilton in recent years as it has focused on incorporating cutting-edge technology into its business model.

“It is an honor to be joining Hamilton,” Albo said in prepared remarks. “I’ve been aware of what the company has been doing over the last four years and its goal of leveraging data science and analytics to transform underwriting.”

Albo said she was “proud to be given the chance to lead an organization establishing forward-thinking operations in Bermuda and Lloyd’s markets and through its investments in Attune, the technology platform established by Hamilton in partnership with AIG and Two Sigma.”

Hamilton Chairman William Freda said the search for a new CEO was “robust and thorough,” but that Pina stood out in many ways from the “very high caliber of candidates we considered.”

“All of us involved in the search were impressed by what Pina will bring to Hamilton: an accomplished career with extensive experience and contacts in the global insurance and reinsurance markets, a dynamic commitment to change in our industry and a deep understanding of what we are building at Hamilton,” Freda said in prepared remarks.

Freda also thanked Brown for serving as Interim Group CEO in the meanwhile. Once Albo takes on her job as CEO, Brown will resume his full responsibilities as a member of the Board of Directors. Freda said Brown will work with her during the transition and beyond.

Beyond her work at Munich Re, Albo is also a member of many industry boards, including the board of the Insurance Information Institute, the board of the Reinsurance Association of America and the National Board of the Insurance Industry Charitable Foundation.

Ms. Albo holds the Maîtrise en Droit, International and European Community Law, from L’Université d’Aix-Marseille III, Aix-en-Provence, France; Juris Doctor from Osgoode Hall Law School, York University, Toronto, Canada; and a Bachelor of Arts degree in Languages from the University of Winnipeg, Winnipeg, Manitoba, Canada.

Source: Hamilton Insurance Group

Topics Canada