New leadership for Abir policy committee
Edward Mishambi of RenaissanceRe and Gemma Carreiro of Hamilton Insurance Group have been appointed chairman and deputy chairwoman, respectively, of the policy committee at the Association of Bermuda Insurers and Reinsurers.
The committee reviews insurance regulation in Bermuda and overseas, international regulatory standards, public policy in Bermuda, United States natural disaster policy and regulation, and, increasingly important, Abir's policy positions on climate risk, adaptation and mitigation, the organisation said.
Albert Benchimol, president and chief executive officer of Axis Capital and chairman of Abir, said: “Edward and Gemma are highly regarded for their wealth of industry expertise in public policy matters affecting the Bermuda market.
“Their current, global executive positions at RenaissanceRe and Hamilton Insurance Group make them uniquely qualified to serve Bermuda and Abir in these leadership roles.”
Mr Mishambi is senior vice-president, head of qualitative risk management and external supervisory affairs at RenaissanceRe, which he joined in 2009.
He is responsible for leading various components of enterprise risk management with respect to strategic planning and execution of enterprise risk and capital reporting, and managing relationships with rating agencies and regulators across RenaissanceRe's owned and managed balance sheets on behalf of partner or third-party capital providers.
Prior to joining RenaissanceRe, Mr Mishambi worked at PricewaterhouseCoopers in Bermuda and with Deloitte in East Africa. A Rhodes Scholar, he is a graduate of Oxford University with a MSc in environmental change and management.
He also holds a BSc honours degree in quantitative economics from Makerere University in Uganda and is a fellow of the Association of Chartered Certified Accountants.
Mr Mishambi is deputy chairman of the Global Reinsurance Forum Associates and is a member of the finance board committee of Saltus Grammar School.
Ms Carreiro is general counsel to Hamilton Insurance Group. She joined Hamilton from PartnerRe, where she served as secretary to the board and general counsel to PartnerRe's Bermuda subsidiaries.
Prior to that, Ms Carreiro was an associate at Conyers, where she specialised in corporate law with a particular focus on insurance and reinsurance regulatory matters.
She graduated with a Bachelor of Arts degree in law from Napier University in Scotland and earned a post-graduate diploma in law from the University of Law in the United Kingdom. She also completed the legal practice course at the University of Law.
The twosome succeed Leila Madeiros, head of Bermuda compliance and regulatory affairs for Axa XL. Ms Madeiros led the Abir policy committee from January 2018, having previously served as senior vice-president, deputy director and corporate secretary of Abir.
John Huff, president and chief executive officer of Abir, said: “The Abir board and member companies are thankful to Leila for her technical leadership to achieve and maintain the recognition of Bermuda under US, EU and international regulatory regimes.”
He added: “She was also instrumental in raising the profile of the Bermuda market's role in the important work ahead, including closing the insurance protection gap caused in part by the increased severity and frequency of climate risk.”