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Hamilton Insurance Group Ltd.’s board of directors said Thursday that longtime Munich Reinsurance Co. executive Pina Albo has been named CEO of the Bermuda-based holding company.
Ms. Albo, who will join Hamilton from Munich Re on Feb. 1, succeeds interim group CEO David Brown, Hamilton said in a statement. Mr. Brown held the executive position during a search for a permanent replacement following Brian Duperreault’s departure in May to take the helm at American International Group Inc.
During her 25-year career at Munich Re, Ms. Albo has held increasingly senior positions, Hamilton said in a statement. They include head of its casualty unit, North America/U.K. and international D&O/EPL; head of casualty operations at Munich Reinsurance Co. of Canada and Temple Insurance Co.; executive head of department for U.K. and Ireland; and president of the reinsurance division of Munich Reinsurance America Inc.
Ms. Albo’s most recent position at Munich Re is member of the board of executive management, where her responsibilities have included property/casualty business and operations in Europe and Latin America, according to the statement.
Ms. Albo also has been a member of many industry boards including the Board of the Insurance Information Institute, the Board of the Reinsurance Association of America and the National Board of the Insurance Industry Charitable Foundation, according to the statement.
The appointment is subject to approval by the Bermuda Department of Immigration.
“It’s with great pleasure that we make this announcement today,” Hamilton Chairman William Freda said in the statement. “Our search for a new CEO has been robust and thorough, and we were delighted with the very high caliber of candidates we considered.”
“It’s an honor to be joining Hamilton,” Ms. Albo said in the statement. “I’ve been aware of what the company has been doing over the last four years and its goal of leveraging data science and analytics to transform underwriting.
Brian Duperreault’s move to run American International Group Inc. will forge a close partnership between AIG and Hamilton Insurance Group Ltd., the insurance and reinsurance group he has led for the past four years.