ChainThat, an insurance technology (insurtech) provider of distributed ledger (often called blockchain) solutions for the insurance and reinsurance industry, has appointed Kathleen Faries as a Bermuda Advisor.
Faries is well-known in the Bermuda reinsurance market and insurance-linked securities (ILS) world, given her most recent roles at Tokio Millennium Re, which became a key facilitator for convergence style transactions and in risk fronting for the capital markets.
ChainThat is working on the development of a new risk and capital exchange which it had named the Bermuda Insurance Exchange.
Faries will work alongside the ChainThat team as a Bermuda Representative and Advisor, supporting its rollout of the Bermuda platform and to help drive adoption, the company said.
Faries was most recently the Head of Tokio Millennium Re AG (TMR), Bermuda. She has more than 30 years of experience in the insurance and reinsurance market, across property and casualty broking to U.S., London and Bermuda markets, as well as in the development and management of captive insurance companies.
Faries also served as Chief Executive Officer of Tokio Solution Management Ltd. (TSM), where she led the expansion of TMR’s capital markets strategy and helped to build the firms reputation as a leading ILS facilitator and connector of risk to capital.
“I am delighted that Kathleen has joined the ChainThat team as our Bermuda Advisor,” commented David Edwards, Chief Executive Officer of ChainThat. “Since the Bermuda launch in March, we have seen a significant uptake and interest to participate in the trial by the (re)insurance and wider community, Kathleen brings extensive market experience and is highly respected by her peers and will make a significant contribution to help drive the trial forward and promote wider adoption.”
Kathleen Faries added, “I am keenly interested in seeing the Bermuda market lead the way on a digital marketplace especially given how uniquely positioned we are to execute on this initiative. I am excited to be a part of exploring how we can apply the technology and expertise that ChainThat offers to future-proof and grow the Bermuda (re)insurance market.”
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