Inver Re, the Ardonagh Group’s reinsurance broking arm, has made a key hire in taking well-known industry executive Tom Johansmeyer from Verisk’s PCS unit, to become the brokers’ new Global Head of Index products, Artemis has learned.
Johansmeyer has worked at Verisk for over 11 years and has led the Property Claim Services (PCS) business since 2016 as Head of PCS.
He joined the company in 2012 as Director of Marketing, Verisk Insurance Solutions – Claims and Crime Analytics, before becoming Assistant Vice President Reinsurance Services and Marketing in 2015 and then taking the lead at PCS.
With PCS the provider of the most-widely used range of industry-loss index products, Johansmeyer has been intrinsically involved in the catastrophe bond, industry-loss warranty (ILW) and wider and insurance-linked securities (ILS) market as a key service provider for much of his career at the division.
In his time as Head of PCS, he has grown the geographical footprint of the product offering and broadened its scope to include specialty lines of insurance and reinsurance business.
PCS has expanded its industry-index scope to include diverse regions such as Japan, Asia Pacific, Latin America, Mexico, Turkey, as well as to lines of business including cyber, terror, marine and energy, onshore property per risk, aviation.
In his time at PCS, the product has become far more widely used, thanks to improvements in process and reporting Johansmeyer has instigated.
Resulting in an increased market share for ILW’s and dominance for the key US region’s industry-loss trigger catastrophe bond market.
Johansmeyer will join Inver Re this June and be based in Bermuda for the firm, with a title of Global Head of Index.
He will report to Kevin Stratton, the CEO for Bermuda Specialty & P&C at Inver Re, we’re told.
Johansmeyer is a regular face at Artemis’ ILS market conferences and known as an innovative thinker in the reinsurance and ILS space, with a product and business development focus. You can find a number of video interviews with Johansmeyer and panel sessions he’s participated in at Artemis conferences here.
Moving to the broking side of the market, Johansmeyer becomes the first PCS leader to leave the company for a position in the market.
We reached out to Johansmeyer but he declined to comment on this story.
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