Catastrophe risk modeller RMS has announced the appointment of Michael Steel as Global Head of Business Development, joining the RMS Executive Committee.
Steel first joined RMS in 2016 and had been serving in a strategic advisory role at RMS prior to his appointment.
He has 30 years’ experience in risk and capital management in the re/insurance industry, with prior roles including Group Chief Risk Officer at AXIS Capital.
Previously, he also spent 12 years at Benfield (later Aon Benfield) where he led the ReMetrics team, in addition to leading teams in the development innovative solutions in the reinsurance and capital markets.
Going forward, Steel will be based in the RMS London office and report directly to Karen White, Chief Executive Officer at RMS.
“Mike brings a wealth of experience and industry knowledge of the global insurance market to his role,” said White. “RMS clients have benefitted from Mike’s thought leadership and wholistic, pragmatic approach to bringing innovation to the insurance industry”
She added: “His unique perspectives and strong industry relationships built over years make him ideally suited to advance our business development efforts to bring new and differentiated value to our customers as our market evolves.”
Steel also commented: “The insurance industry is at a key inflection point in terms of harnessing advances in data, analytics, and technology.”
“RMS has always been the leader in catastrophe modeling and the significant investments it is making in technology solutions will assist the industry to navigate through this transformation. I am excited by the direction and potential of RMS, and in our ability to deliver, innovate, and grow.”
In addition to his role with RMS, Steel serves as an Independent Non-Executive Director on the board of Allianz Re Dublin dac.
He has previously served as an Independent Non-Executive Director on the board of Berkshire Hathaway’s International business, an Appointed Director on the Casualty Actuarial Society and Chairman of the Geneva Association’s CRO Network.
