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Albo is new CEO of Hamilton Insurance Group

company news: Pina Albo, a top executive at Munich Re, has been named as the new CEO of Hamilton Insurance Group (Photograph supplied)

Hamilton Insurance Group has named Pina Albo as its new chief executive officer.

She will join the company, subject to immigration approval, on February 1.

Ms Albo was most recently a member of the board of executive management at Munich Re, where she has worked for 25 years.

She will replace David Brown, who has acted as interim group CEO since the departure of company founder Brian Duperreault who in May left to take on the role of CEO with American Insurance Group.

William Freda, chairman of Hamilton Insurance Group, said: “Our search for a new CEO has been robust and thorough, and we were delighted with the very high calibre of candidates we considered.

“In the final analysis, all of us involved in the search were impressed by what Pina will bring to Hamilton: an accomplished career with extensive experience and contacts in the global insurance and reinsurance markets, a dynamic commitment to change in our industry, and a deep understanding of what we’re building at Hamilton.”

He added: “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.”

While, Mr Brown said: “I want to thank the members of the executive team and all Hamilton employees for their hard work and dedication during a period of organisational change, and our brokers and clients for their continued strong support,.

“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.”

Ms Albo began her career as a lawyer in Toronto. 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, she has held increasingly senior positions, including president of the reinsurance division at Munich Reinsurance America.

Ms Albo said: “It’s an honour to be joining Hamilton. 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 organisation 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.

“Hamilton has strong management, committed shareholders and a dedicated board of directors, intent on delivering transformative change for the benefit of all stakeholders. The components of a great company are already in place. I’m keen to join this impressive team.”

Ms Albo 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.

She has been recognised for her contributions to the insurance industry and has received numerous awards including the Association of Professional Insurance Women’s “Woman of the Year” in 2011. She was designated a “Top Influencer” in Insurance Business America’s List of “Hot 100” in 2014, and placed in Intelligent Insurer’s list of ‘Top 100 Women in Re/insurance” in 2014 and 2015.