Fortitude Re has announced the appointment of Ming Zhang as Chief Risk Officer and Andrew Sooboodoo as Chief Regulatory Officer, effective immediately.
Zhang will also join Fortitude Re’s Executive Committee and report to Chief Executive Officer Alon Neches. His remit in the role will be leading the company’s corporate risk management strategy, continuing to advance, strengthen and sustain its strong risk culture.
Sooboodoo is transitioning from his prior role as Chief Risk Officer into the newly created role of Chief Regulatory Officer to ensure the firm’s continued growth and maintain its global regulatory constituents as the business continues to grow and mature.
Alon Neches, CEO of Fortitude Re commented, “The essence of Fortitude Re is in the quality of our teammates, and we couldn’t ask for higher caliber professionals than Ming and Andrew to lead their respective functions.
“Ming brings with him a wealth of experience in the insurance and reinsurance industry and extensive expertise in investments and risk management.
“As our founding Chief Risk Officer, Andrew has already built a strong foundation in that discipline, and he is now carrying that forward to ensure we apply the same constructiveness, rigor, and thoughtfulness to our engagement with the regulatory community.”
Zhang was previously at SiriusPoint where he served as Chief Investment Officer (CIO), responsible for leading the investment team, setting and implementing the global insurer’s investment and hedging strategies, and managing day-to-day investments. He has also held leadership positions at MetLife and AIG.
Sooboodoo is a Director of both BILTIR and ABIR, Bermuda’s Life and P&C Reinsurance Associations respectively. He held various leadership roles in Bermuda before joining Fortitude Re as Chief Risk Officer in November 2021.
The Fortitude Re Group manages approximately $72 billion in general and separate account insurance reserves and administers over 4.5 million insurance policies.
