Fidelis Insurance has promoted Mark Herget to the position of Deputy Group Head of Direct & Facultative (D&F) Property, where he will continue to work alongside Co-Deputy FUL CUO and Group Head of D&F Property, Michael Davern.
Herget joined Fidelis in April 2020 as an underwriter in its London office, transferring to Bermuda in November 2020.
In his new role, he will be now be responsible for leading the growth of Fidelis’ D&F writing in Bermuda.
Richard Holden, Chief Executive Officer of Reinsurance and Chief Underwriting Officer of Bermuda, said: “I am delighted to confirm Mark’s promotion, which is a reflection of his outstanding contribution to the growing relevance of writing D&F in our Bermuda office.”
Last month, Fidelis became the latest company to join the Poseidon Principles for Marine Insurance, which sets a framework for responsible insurance practices in the maritime sector.
As part of the shipping ecosystem, Fidelis believes that marine insurers have a part to play in promoting responsible environmental stewardship, including decarbonization efforts.
The Principles are aligned with the IMO’s ambition for GHG emissions from international shipping to peak as soon as possible and to reduce total annual GHG emissions by at least 50% by 2050 compared to 2008.
As a step toward alignment with the Paris Agreement, the Poseidon Principles for Marine Insurance also measure underwriting portfolios against a 100% by 2050 CO2 reduction trajectory.
Signatories commit to publicly disclose the climate alignment of their hull and machinery portfolios on an annual basis.
