Reinsurance News

Hamilton Insurance appoints new Chairman & Interim Group CEO

15th May 2017 - Author: Luke Gallin

Bermuda domiciled insurer and reinsurer, Hamilton Insurance Group, has named William C. Freda as its new Chairman of the Board, and David A. Brown as Interim Group Chief Executive Officer (CEO), following the resignation of Brian Duperreault.

AIG recently confirmed that Duperreault is to take over as President, CEO and Director of the company, signalling his resignation as Chairman and CEO of Hamilton Insurance Group.

“It is with regret that we have accepted Brian’s resignation from Hamilton. He is an industry icon with a well-deserved reputation for visionary leadership. We have had the privilege of experiencing this first-hand at Hamilton.

“However, we have in David an experienced industry CEO who has been with the Company since inception. He is an ideal resource to lead Hamilton through this transition,” said Freda.

Brown has been a member of Hamilton Insurance’s board since its establishment in December 2013, and also serves as Chairman of the Finance and Governance Committee. Prior to this he served as CEO of Flagstone Reinsurance Holdings Ltd. for 12 years, and also served as CEO of Centre Solutions from 1994 until 1997.

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Prior to this, Brown was a Partner with Ernst & Young, and he’s been the Chairman of the Bermuda Stock Exchange (BSX) since 2000.

Freda continued; “With a superlative management team, and a Board of Directors representing a cross section of disciplines from the insurance, finance and technology industries, we are well-prepared to continue to execute our mission of writing the future of risk.

“In addition, our relationship with Two Sigma, our technology and investment partner, has been an extremely productive one since Hamilton’s launch at the end of 2013. Our experience with Attune, the technology-enabled company established with Two Sigma and AIG, has demonstrated the huge potential in applying data science and analytics to transform the underwriting process.

“We are all excited about the potential for ongoing growth and development at Hamilton.”

Freda joined Hamilton Insurance’s Board of Directors in 2014, and also Chairs the Board’s Audit Committee. Freda ended his career at Deloitte in 2014, after spending almost 40 years with the company in a number of senior positions.

This included Chairman of the Risk Committee and the Audit Committee of Deloitte Touche Tohmatsu Limited’s Board of Directors, Managing Partner of Deloitte’s U.S. client initiatives, and Regional Managing Partner of the Northeast, Deloitte’s largest U.S. region, explains Hamilton.

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