The Board of Directors of the Dubai Financial Services Authority (DFSA) has appointed Mr Bryan Stirewalt as the next chief executive of the DFSA, effective 1 October. Mr Stirewalt will succeed Mr Ian Johnston who, in late 2017, announced his intention to retire from the DFSA.
Lloyd’s has announced the appointment of Mr John Neal as its CEO following a unanimous approval during a meeting of the Council of Lloyd’s. Mr Neal succeeds Ms Inga Beale, taking up his position at Lloyd’s on 15 October 2018.
Mr Neal’s whole career has been associated with the Lloyd’s market, first as an underwriter and later as CEO of the Ensign Managing Agency. He was most recently group CEO of QBE, a global insurance and reinsurance business with a significant Lloyd’s footprint.
In this role, he was responsible for running a $14bn GWP business with over 14,000 employees in 37 countries. He brings significant experience as a global CEO who has a track record as a highly effective leader who can deliver business transformation.
The appointment is subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority.
IDF appoints new chair, first sec-gen
The Insurance Development Forum (IDF) has appointed Mr Denis Duverne as chair of its steering committee, with effect from 11 September 2018.
He succeeds Mr Stephen Catlin, founder and former CEO of Catlin Group.
Mr Duverne is chairman of AXA Group having held senior roles, including CFO and deputy CEO, at the global insurer since 1995. He has been a member of the IDF steering committee since 2016.
Mr Catlin is the first chairman of the IDF which was formed in 2016. During his tenure, the IDF supported several groundbreaking insurance developments, including the Centre for Global Disaster Protection and the G20 InsuResilience Global Partnership by the UK and German governments. It has also driven critical initiatives on enhancing open source and transparent risk modelling, market-enabling regulation and partnerships with international institutions.
Meanwhile, the IDF has also appointed Ms Ekhosuehi Iyahen as its first secretary general, effective 1 October 2018.
Ms Iyahen brings a unique profile to the IDF, having held senior positions at two pioneering regional catastrophe risk pools, the African Risk Capacity (ARC) and the Caribbean Catastrophe Risk Insurance Facility (CCRIF).
As the IDF’s first secretary general, Ms Iyahen will be a visible and central point of contact for the IDF, establishing and building out the IDF Secretariat in London hosted by the International Insurance Society (IIS). She will also support the design, development and implementation of the IDF’s operational activities.
The IDF secretary general will support and manage the IDF’s implementation efforts, driven by an operating committee and led by a high-level steering committee of 29 public and private sector leaders, including the United Nations Development Programme and the World Bank Group.
The IDF is a public-private partnership led by the insurance industry and supported by international organisations. It aims to enhance the use of insurance to build greater resilience against disasters and to help achieve the United Nations Global 2030 Agenda. The organisation is overseen by a steering committee chaired by a senior insurance industry representative and co-chaired by United Nations and World Bank representatives.
Russell Higginbotham to lead Swiss Re’s EMEA reinsurance
Swiss Re has appointed Mr Russell Higginbotham as its CEO Reinsurance EMEA and regional president EMEA effective 1 September 2018. Mr Higginbotham, who has worked for Swiss Re for 24 years in roles across multiple business areas and geographies, succeeds Mr Jean-Jacques Henchoz.
Prior to this appointment, Mr Higginbotham led the company’s global life & health products division. Previously, he served as CEO of Swiss Re UK & Ireland, CEO of Swiss Re Australia and New Zealand, and led the company’s life & health businesses in Japan and Korea. He also held various appointments outside Swiss Re, having been a director of both the Association of British Insurers and the International Underwriting Association, as well as president of the Insurance Institute of London.
Change in top management at Hannover Re
Hannover Re has announced that its CEO Ulrich Wallin will retire following the company’s annual general meeting in May 2019. He will be succeeded by Mr Jean-Jacques Henchoz, the former CEO Reinsurance EMEA at Swiss Re, who has been appointed as a member of the executive board effective 1 April 2019.
Mr Henchoz has been serving with Swiss Re in a number of different positions since 1998, including in the role of CEO of the subsidiary Swiss Re Canada from 2005 to 2010. Since 2011, Mr Henchoz has been responsible for both the life and non-life business of EMEA at Swiss Re. He was appointed as a member of the executive committee of the Swiss Re Group in 2012.
Mr Herbert K Haas, chairman of the supervisory board of Hannover Rück SE said, “We are profoundly grateful to Ulrich Wallin for his tremendous entrepreneurial achievements. Under his expert and prudent direction Hannover Re has significantly expanded its market position as a leading reinsurer and further enhanced its diversification and sustained profitability. In Jean-Jacques Henchoz we have secured the services of a very seasoned reinsurance manager who will continue to drive the company’s successful development.”
Mr Wallin’s career at Hannover Re spans 35 years. He was appointed to the executive board in 2001 and become CEO in 2009.
XL Catlin forms new team to boost reinsurance business
XL Catlin has formed a new management team with oversight of its Europe, Middle East and Africa (EMEA), Asia Pacific and Latin America reinsurance business.
The establishment of the team sees a number of individuals stepping up into new roles.
Mr David Watson, previously chief executive, EMEA and international casualty, has expanded his regional responsibility by adding Asia Pacific and Latin America to his leadership remit, and takes on the new title of chief executive, international, reinsurance.
Mr Peter Schmidt takes on a dual role as chief executive, Middle East & Africa, Asia Pacific and Latin America and chief underwriting officer for credit and surety. In this role, Mr Schmidt takes on responsibility for the day-to-day management of branches across Latin America, Middle East and Asia Pacific, while also leading the strategy for credit and surety lines.
Mr Bertrand Romagne will also take on a dual role as chief executive, Europe and chief underwriting officer for property and casualty, joining Mr Watson and Mr Schmidt on XL Catlin’s reinsurance leadership team.
Mr Tom Harris takes on the role of head of pricing and analytics for the international region.
Mr Shamoon Hussain is appointed head of claims, international. In this role Mr Hussain, who is also responsible for London and EMEA, adds Asia Pacific and Latin America to his remit of leading both technical claims and claims processing.
The operations team including the chief of staff function will be led by Ms Patrizia Baur.
Morocco: Management reshuffle at Saham
The board of directors of Saham Assurance, the largest insurance company in Africa outside of South Africa, has named Moroccan multi-millionaire Said Alj as the new president of the insurer.
The move followed the resignation of the former president, Nadia Fettah, and the general manager of the company, Moulay Mhamed Elalamy.
Mr Alj, who is the president of Sanam Holding, holds a 21.5% stake in Saham Assurance. He has businesses in several sectors at home and abroad, including food, distribution of technical equipment, consumer distribution, tourism, cinema, commercial real estate and finance.
Saham Assurance has made other changes. To replace Mr Elalamy, the Moroccan company appointed Mr Christophe Buso as CEO, while Mr Mahmoud Oudrhiri’s mandate as COO was renewed.
Oman: AFIC appoints new CEO
Arabia Falcon Insurance Co (AFIC) has announced the appointment of Mr Roland Zaatar as the company’s new CEO.
Mr Zaatar has more than 25 years of experience in the reinsurance and insurance industry in various markets in the GCC, Middle East and Europe. Prior to joining AFIC, he was a senior executive officer of RSA, Dubai for six years.
Mr Zaatar will assume his position at the end of the first week of October, taking over from Mr AR Srinivasan.
Oman: OIC has new country manager
Mr Sameh Hafez has been appointed country manager in Oman, to manage the local operations of Oman Insurance Company (OIC).
An experienced insurance professional, Mr Hafez brings to his role strong industry knowledge acquired over almost two decades, across multiple territories around the world. With a keen eye for innovation, he is committed to transforming the industry perception by delivering unique products and services tailored to suit the rapidly evolving tech-savvy insurance customer.
Joining Oman Insurance in 2016 as vice president – head of high net worth & personal lines, Mr Hafez successfully worked towards setting up the High Net Worth division, while winning exclusive accounts.
Prior to joining OIC, Mr Hafez headed the consumer division at AIG in Dubai. In this role, he delivered innovative business solutions, including winning and executing key partner accounts.
Saudi Arabia: Head underwriter strengthens team at Saudi Re
As part of its efforts to strengthen its human capabilities, Saudi Re has appointed Mr Abdelfattah Chami as head of non-life underwriting (facultative & treaty).
Mr Chami brings with him more than 20 years of experience in the technical and underwriting field, having assume different senior roles with key market players including Hannover Re and Arch Re.
In his capacity as head of non-life underwriting, Mr Chami will lead the non-life underwriting team to improve the relationship with clients and brokers, and develop growth and diversification opportunities for Saudi Re across the MENA and Asia markets.
Tunisia: FTUSA elects new president
The Tunisian Federation of Insurance Companies (FTUSA) has elected Mr Habib Ben Hassine as its new president. He takes over from Mr Lassaad Zarrouk, who completed his three-year term last September.
Mr Ben Hassine is the CEO of Maghrebia Insurance Group and has been a board member of FTUSA for the past three terms. He has served as general manager of Maghrebia since 2009, prior to becoming the company’s CEO. Previously, he was the group manager of life at Oman Insurance in the UAE.
Meanwhile, Mr Yazid Sellaouti has been elected as the vice president of FTUSA. He serves as the Directeur Général of Lloyd Assurances. Mr Sellaouti worked with Hannover Re as senior underwriter between 2007 and 2011. He also worked as an actuary with Generali between 2003 and 2006.