PERILS AG, the Zurich-headquartered provider of catastrophe insurance loss data and indices, has announced the appointment of former Swiss Re executive Darryl Pidcock as Head of PERILS Asia-Pacific to lead an expansion in the region.
Pidcock, who is based in Sydney, Australia, will be tasked with further developing PERILS product offering in the Asia-Pacific region, which will include the expansion of the PERILS Industry Exposure & Loss Database into other Asia-Pacific insurance and reinsurance markets.
Pidcock was most recently with global reinsurance firm Swiss Re, and has 26 years of experience in the financial sector, 18 years of which were spent in reinsurance.
He began his reinsurance career in 1999 at Swiss Re Australia as a credit specialist and Property & Casualty client manager, before moving to Hong Kong in 2005 to lead the Hong Kong and Taiwan Property & Casualty, Life and Health reinsurance business units, and held the role of General Manager of the Hong Kong Swiss Re branch.
He became Head of Swiss Re’s Korea branch in 2010, then in 2013 became Head of Client Management for China, leading the client management teams for Property & Casualty and Life & Health in Beijing. In 2015, he moved to Singapore to lead client management efforts for Swiss Re Life & Health in Southeast Asia.
Pidcock will also work on the NatCatDAX Project, the Singapore-based industry-led initiative that aims to increase data availability for natural catastrophe insurance and reinsurance in Asia.
Pidcock commented on joining PERILS; “I am very proud and excited to be taking the helm of the PERILS industry initiative in Asia- Pacific. I am convinced that PERILS will become an indispensable industry benchmark in the region, and will greatly enhance the risk transparency and understanding of catastrophe exposures. This will benefit both the demand and supply sides of our industry, creating new economic value which forms the basis of PERILS’ success.”
Luzi Hitz, CEO of PERILS, added; “I am delighted that Darryl has joined our team as Head of PERILS Asia-Pacific. With his exceptionally broad experience and excellent reputation in the region, I am convinced that he is the ideal person to lead our activities in Asia-Pacific. Over the years, PERILS’ Cat exposure and loss data have significantly increased the transparency and understanding of Cat risk in the covered territories, and have facilitated more than USD 14bn of risk capital via Cat bonds and traditional reinsurance solutions. With Darryl joining PERILS, we are confident that we can achieve a similar feat in the Asia-Pacific region.”
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