Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) insurtech that launched with a California wildfire focus, has announced its hiring of former Fidelis underwriting leader Brian Espie as Chief Underwriting Officer, while Amit Shah has been promoted to President of Kettle Limited.
Kettle positions itself as an intelligent source of risk for providers of reinsurance capital and is agnostic to the source of that capital, following an MGA model and beginning with California wildfire risk.
Kettle aims to enhance the understanding of catastrophe and climate risks with its advanced technological approach, using machine learning and other techniques to model risks, then establish mechanisms and structures to transfer risks to both traditional and capital market sources of reinsurance capacity.
The company plans to expand its remit beyond wildfire risks in California, with a focus on other climate-affected perils through 2023.
Subject to the approval of the Bermuda Immigration Department, Espie joins Kettle from his most recent position as Group Head of North American Reinsurance at Fidelis Insurance.
As CUO, he will head up underwriting at Kettle as it looks to expand its business.
Co-Founder and CEO, Andrew Engler, commented, “We are very excited about Brian joining our executive team. He brings extensive breadth and depth of experience in insurance/reinsurance underwriting. Brian’s exceptional combination of analytical expertise and strategic vision will serve us well as we continue to grow our business.”
Before his time at Fidelis, Espie worked in a range of underwriting and analytical roles for the Tokio Marine Group, including reinsurance arm Tokio Millennium Re in Bermuda.
“I am excited to be joining at a time when Kettle is well-positioned to address the growing challenges facing our industry. Climate change has demonstrated the need for innovative products that provide immediate solutions to both insurers and reinsurers. The deeply talented team at Kettle have built a platform that will help bring these solutions to the market with flexibility and efficiency,” Espie said.
Kettle also recently hired more underwriting expertise in the US, bringing onboard Mike Ratelle from TigerRisk and Taimur Chaudhri from American Ag Insurance.
Co-Founder and Chief Operating Officer, Nathaniel Manning, said, “We are very excited to have someone with Brian’s experience and stellar track record join the Kettle team. He brings a great deal of strategic insight and industry knowledge to Kettle which will prove invaluable as we scale our new commercial parametric wildfire insurance and GRIL (Grid Rated Industry Loss) reinsurance products and expand into new perils in the future.”
Now Kettle Limited President Amit Shah also stated, “Kettle has had an exceptional 2022 year with developing new products and building capacity both in the insurance and reinsurance space. We have been very fortunate in attracting the best talent in Brian, Mike and Taimur to the underwriting team, and this will allow us to accelerate growth into 2023.”