R&Q brings in veteran New Jersey regulator
Peter Hartt has been appointed US head of compliance and regulatory affairs at Bermudian-based Randall & Quilter Investment Holdings Ltd.
The leading non-life global specialty insurance company focusing on programme management and legacy insurance businesses said Mr Hartt joined R&Q on January 10 and reports to Angele Galea St John, group head of governance.
He is responsible for managing R&Q’s regulatory infrastructure, including its interactions with insurance regulators and supervisory authorities in the US.
The company said Mr Hartt has more than two decades of experience in insurance regulation, including as a lead professional regulator within the US life, health, property-casualty and captive insurance markets.
He joins from the New Jersey Department of Banking and Insurance where he served for seven years as the director of insurance, nine years as assistant director of insurance and several years in a variety of other roles including fraud deterrence.
Mr Hartt previously initiated and directed the implementation of the first framework by a state for global group-wide supervision and financial examination of an international insurance group, including all material legal entities worldwide.
He has been an active member of the National Association of Insurance Commissioners, the International Association of Insurance Supervisors and NAIC representative to the federal Financial Stability Oversight Council.
William Spiegel, executive chairman of R&Q, said: “I am delighted that Peter has joined our team. His expertise will further support our regulatory and compliance frameworks as we continue to drive towards our ambitious five-year vision to grow into a more efficient, fee oriented and data-driven company focused on our core strengths of insurance origination, underwriting and claims management. I look forward to working with him to proactively prepare R&Q for the evolving regulatory landscape.”