Giuseppina Albo to succeed Duperreault as Hamilton CEO
Giuseppina Albo is leaving the board of management of Munich Re at the end of 2017 to take up the position of CEO at Hamilton Insurance Group in 2018, Munich Re said on Oct. 19.
Hamilton Insurance Group, the Bermuda-based holding company for property and casualty re/insurance in Bermuda, had appointed David Brown as interim group CEO in May after the resignation of Brian Duperreault who left the company to lead AIG as its new CEO.
Munich Re said that the supervisory board and the board of management would like to thank ‘Pina Albo’ for her “outstanding commitment and dedication over many years, and wish her all the best in her new role and for the future”.Albo has worked for Munich Re since
Albo has worked for Munich Re since 1992, and has been the member of the board of management with responsibility for Europe and Latin America since October 2014. Until further notice, Peter Röder will take over this role in addition to his responsibility for global clients and North America.
Hamilton confirmed the appointment, saying that Albo will join Hamilton from Munich Re on February 1, 2018.
"It's with great pleasure that we make this announcement today," said Hamilton chairman William Freda. "Our search for a new CEO has been robust and thorough, and we were delighted with the very high calibre of candidates we considered.
"I know I speak for our Board and senior management in thanking David for taking on the role of Interim Group CEO during this transitional period. We look forward to David being able to focus solely on his responsibilities as a member of the Board of Directors once Pina takes up her new position and to working with her as we continue to pursue Hamilton's mission of writing the future of risk."
"I know that Pina is a great fit for Hamilton, and once I hand the CEO reins over to her, I'll be keen to continue my work on the Board."
Albo commented: "It's an honour to be joining Hamilton," said Ms. Albo. "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.
"In particular, I'm proud to be given the chance to lead an organization establishing forward-thinking operations in the Bermuda and Lloyd's markets and through its investment in Attune, the technology platform established by Hamilton in partnership with AIG and Two Sigma.
"In particular, I'm proud to be given the chance to lead an organization establishing forward-thinking operations in the Bermuda and Lloyd's markets and through its investment in Attune, the technology platform established by Hamilton in partnership with AIG and Two Sigma.
Albo began her career as a lawyer in Toronto, Canada. After practicing in real estate, corporate finance and M&A, she accepted a position at Munich Re as a claims expert. During her 25-year career at the company, Albo has held increasingly senior positions which have included head of casualty unit, North America/UK and international D&O/EPL; head of casualty operations at Munich Reinsurance Company of Canada and Temple Insurance Company; executive head of department UK and Ireland; president, National Clients Division, Munich Re America; and president, Reinsurance Division, Munich Reinsurance America. Albo's most recent position at Munich Re is member of the board of executive management where her responsibilities have included P&C business and operations in Europe and Latin America.
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