Albo elected deputy of Abir
Pina Albo is the new deputy chairwoman of the Association of Bermuda Insurers and Reinsurers, and the first woman elected to the board.
Abir has also welcomed Convex Group as its newest member. The Bermudian-based $1.8 billion re/insurer is led by Stephen Catlin, a former chairman of Abir.
Ms Albo is CEO of Hamilton Insurance Group and fills the deputy position at Abir that was vacated by Validus Re CEO Kean Driscoll.
Mr Driscoll stepped down from the role after being appointed global chief underwriting officer for American International Group’s property and agriculture insurance.
Albert Benchimol, president and CEO of Axis Capital and chairman of Abir, said: “On behalf of the Bermuda market, I want to thank Kean Driscoll for his industry leadership and for his service to Abir.
“We welcome Pina Albo as an Abir officer and look forward to leveraging her extensive insurance leadership experience to continue Bermuda’s leading underwriting position in the global re/insurance industry.”
Ms Albo said: “I’m delighted to join the esteemed Abir leadership. Although I’ve been with Hamilton for almost two years, it didn’t take me long to realise the integral role the association plays in protecting and nurturing the Bermuda re/insurance market.
“As CEO of a Bermuda-based company, I welcome any part I can play in helping Abir, and the island, meet their objectives.”
She 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 Munich Re, she held increasingly senior positions. Her final position with the company was as a member of the board of executive management where her responsibilities included P&C business and operations in Europe and Latin America.
She is on the board for the IFG Companies, Blue Marble Microinsurance and Attune Insurance. She also serves as an ambassador for the Insurance Supper Club, an international organisation that aims to improve networking opportunities for women across the finance and insurance industries.
Previously 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 on Intelligent Insurer’s list of “Top 100 Women in Re/insurance” in 2014 and 2015.
Ms Albo was elected to the deputy position at Abir’s summer board meeting.
Marc Grandisson, CEO of Arch Capital Group, continues to serve as Abir’s first deputy chairman.
Also, at the quarterly board gathering, Convex Group was elected into membership of the association.
Insurance industry veteran Mr Catlin is to lead the new Bermuda-based re/insurer. He was chairman of Abir in 2015 and 2016.
Convex will underwrite insurance and reinsurance for complex specialty risks across a broad range of businesses in both London and Bermuda, and the holding company will be based in Bermuda. In dollar value of capital, it is the largest re/insurance start-up in the Bermuda market’s history.
John Huff, chief executive of Abir said: “Abir’s executive leadership bench is deep. The entire membership thanks Kean Driscoll for his exemplary service, looks forward to working with Pina Albo in her role as an Abir deputy chair, and reconnecting with Stephen Catlin and the growing team at Convex Group on behalf of the World’s Risk Capital — Bermuda.”