Hamilton Insurance Group, the holding company for Bermudian asset management backed reinsurer Hamilton Re, has promoted Peter Skerlj to the role of Chief Risk Officer, Hamilton Re.
Hamilton Re, which was formed following the acquisition of hedge fund backed reinsurance firm SAC Re with the backing of Brian Duperreault and data driven investment management firm Two Sigma, has been building out its team as it seeks to strengthen its position in the market.
Skerlj, a founding member of the Hamilton Re management team has more than 17 years’ experience of relevant experience and a data and analytical background that will suit Hamilton Re’s vision. He began his career as a wind engineer at Applied Research Associates, researching hurricanes and other extreme winds from a variety of viewpoints including climate, the physical impact on buildings and the cost to insurers.
Skerlj joined the reinsurance industry in 2004 and has held roles in risk and analytics at PartnerRe Global, Lancashire Insurance Company and, most recently, Q Re Bermuda Advisors. His experience covers a wide-range of business classes in both insurance and reinsurance including pricing, risk accumulation and portfolio management.
“I’m delighted to announce Pete’s well-deserved promotion to this critical role in our company,” commented CEO Brian Duperreault. “With his extensive experience in analytics, his actuarial skills and his deep knowledge of the reinsurance sector, Pete strengthens the intelligent risk management that characterizes Hamilton Re.
“Pete’s promotion demonstrates our confidence in the significant contribution he makes to our company and underscores our commitment to disciplined risk management,” Duperreault continued.
“I enjoy being a part of the young and dynamic team at Hamilton Re,” added Mr. Skerlj. “And the chance to work with an industry icon like Brian Duperreault doesn’t come along very often. Coupled with our relationship with Two Sigma, a leader in the field of technology, big data and analytics, I’m excited about the possibilities that we face.
“We are creating a solid framework, from the ground up, to proactively manage the risks faced by our industry, enabling our company to create value for both our policyholders and shareholders.”
Hamilton Re is trying to differentiate itself with a more active investment strategy on the asset side of the business, provided by hedge fund and investment manager Two Sigma. The reinsurer is seemingly trying to match this on the liability and underwriting side of the business by promising to follow a data driven approach to reinsurance and leveraging the latest technology and trends in big data to maximise return for shareholders and benefits for clients.
So Hamilton Re appears to be following a more aggressive investment strategy than a traditional reinsurer, more akin to a hedge fund backed strategy, while following a more volatile underwriting strategy than a hedge fund backed reinsurer would typically employ. This makes the firm an interesting opportunity for investors and also something to watch in terms of a different take on the more typical reinsurer business models.