Envelop Risk, a global specialty cyber re/insurance analytics and underwriting firm, has appointed Brian O’Hara, former Chairman and Chief Executive Officer (CEO) of XL Capital Ltd (now XL Group), to its Board of Directors.
O’Hara served as President and CEO of XL from 1994 until 2008, and as Chairman of XL’s Board of Directors from 2008 to 2009.
He joined XL Insurance (Bermuda) as its founding President and Chief Operating Officer (COO) in 1986, having begun his insurance career at The Royal Insurance Company and Employers’ Reinsurance Company in San Francisco.
O’Hara has also served as Chairman of the Association of Bermuda Insurers and Reinsurer (ABIR) and is a Director and member of the Executive Committee of the U.S Chamber of Commerce.
Jonathan Spry, CEO of Envelop Risk, said: “Brian’s extraordinary leadership as an executive and director transformed the insurance industry. He is an outstanding addition to our Board, and we will benefit greatly from his domain expertise and counsel.”
“Brian has helped form the excess casualty market back in the ‘80s while the market was hopelessly unprofitable. Cyber risk has parallels to the casualty markets of the ‘80s in it’s esoteric nature and growing demand. We will immensely benefit from Brian’s experience in building XL Capital from scratch.”
O’Hara added: “I am honored to serve on the Envelop Risk Board of Directors. Envelop Risk is transforming the cyber insurance and reinsurance market through its innovative AI-based technology that addresses the complexity of cyber risk to more effectively quantify risk and tailor products.”
Headquartered in London, with offices in Boston, Washington DC, and Bermuda, Envelop Risk provides delegated re/insurance underwriting and partners with cyber security firms to develop customised re/insurance products.