Somerset Reinsurance, a provider of reinsurance solutions for life insurance and annuity business, has hired Thomas Porter as Chief Underwriting Officer.
In the role, Porter will be based in Bermuda, and he will report to Jeff Burt, Chairman and Chief Executive Officer of Somerset.
Porter joins the firm from Hannover Re, where he previously served as Head of Financial Reporting & Valuation at the firm’s operations in Orlando, Florida since 2020.
In addition, Porter also previously held various roles with Hannover Re since joining the company in 2005.
This includes a previous stint as Lead Pricing & Structuring Actuary for Hannover Re’s financial solutions structured reinsurance, captive, and derivative transactions.
Addressing his appointment, Porter, said: “As a client of Somerset over the past nine years, I had the opportunity and pleasure to work with much of the team across a number of transactions. It was clear that the Somerset Re team’s capabilities, vision, and execution was unparalleled, and joining them to help fulfil their long-term and client-focused strategy was an easy decision.”
Burt, commented: “Building on our approach of being a liability-driven organization, we are delighted to add Thomas’ deep reinsurance experience as the lead of our Underwriting team. As we continue our track record of stable and consistent growth, his combination of finance and valuation experience together with demonstrated client-facing successes will help accelerate our expansion across the market.”
In related news, Somerset Re recently appointed Manisha Dias as its Head of New Business Development.
