Clear Blue Insurance has hired David Reale to be its new lead manager of reinsurance contracts.
Reale is joining the company from the beginning of this week after over eighteen years at the Munich Re-backed Hartford Steam Boiler Inspection and Insurance Company (HSB) where he was senior reinsurance contract specialist.
Reale said in announcing his move on LinkedIn: “I’m looking forward to the next phase of my career as I join Clear Blue Insurance Company as their lead manager of reinsurance contracts on 9/26/22. I’ll miss my HSB friends and colleagues but I’m looking forward to making new ones at Clear Blue and helping them continue to profitably grow the business!”
The news come a few weeks after Clear Blue Insurance said it had entered a $1bn reinsurance partnership with Vesttoo. Back then, a statement from the two firms said that the partnership was part of Vesttoo’s vision to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.
In addition to its AI-powered technology and expertise in fintech, insurance and asset management, Vesttoo said it would utilise Clear Blue’s underwriting, program management, data, and analytical capabilities to facilitate faster reinsurance transactions and allow for more investors to gain access to a diversified portfolio of Clear Blue’s P&C risk, on an efficiently collateralised basis.
