Brit hires government adviser behind Flood Re, Pool Re and UK ILS facility

Brit has appointed a former government adviser who was instrumental in the formation of Pool Re, Flood Re and the UK’s ILS facility as an independent strategic consultant and external ambassador for the company.

Michael Wade OBE will act as an adviser to Brit’s management team across a number of areas. He previously served as the Crown Representative for Insurance at the Cabinet Office, advising the UK Government on insurance and reinsurance risks with projects including Pool Re and Flood Re.

He has also advised the former Chancellors of the Exchequer on the ILS markets and in 2015 he was appointed a senior advisor to the Cabinet Office. He is currently non-executive chairman at TigerRisk Capital Markets & Advisory, a senior non-executive director of Neon Underwriting and a senior adviser to Swiss Re.

Matthew Wilson, Group CEO, said: “Michael is a highly regarded figure in the insurance market and he will bring important insight, experience and expertise as an Independent Consultant. Despite the disruption Covid-19 is causing, Brit has made strong strategic progress recently, including the launch of Ki, the first algorithmically traded syndicate. We look forward to working closely with Michael to capitalise on the momentum we have further to build on our established leadership positions.”

Wade commented: “It is an exciting time for Brit as it cements its position not only as a market leader, but a firm at the forefront of driving innovation across the insurance industry. I look forward to working closely with the senior team as Brit continues to reinforce its position as one of the leading firms operating in the Lloyd’s market.”