PERILS AG, the catastrophe loss data aggregator service, has named a new CEO to replace the outgoing Luzi Hitz, with Christoph Oehy of Swiss Re set to take on the role from November 1st.
The fact PERILS were searching for a CEO was widely known, with Hitz having decided to step down from the position and a succession planning process having begun.
As the new CEO of PERILS, Oehy will take on responsibility for leading teams across Europe, Asia-Pacific, and Canada, with a continued focus on improving the availability of insurance market data relating to natural catastrophes.
He will also lead the strategic development of the organisation, including working on opportunities to extend PERILS’ geographic footprint and expand its range of product offerings.
Oehy has more than 20 years of international property and casualty underwriting experience, joining from his current position at Swiss Re, where he is currently Head of Facultative Property for several European countries.
He has worked at Swiss Re since 2003 as a flood risk specialist and has since held a number of senior roles, including as the lead of the Cat Steering team, managing the company’s natural catastrophe portfolio, and also leading the P&C treaty underwriting for Swiss Re Canada.
After November 1st, outgoing CEO Hitz will continue to work at PERILS in the role of senior adviser.
Hitz commented “I am delighted to announce Christoph Oehy as the new CEO of PERILS. His extensive expertise and experience make him the ideal person to ensure that PERILS continues to expand its data potential. I feel privileged to have led PERILS for the last 14 years and thank our data providers, clients, the PERILS team, the PERILS board and our shareholders for their strong support over the years. I was convinced from day one that the PERILS value proposition of increasing the availability of catastrophe insurance data made sense and our success over the last 14 years has proved that.”
Oehy also said, “I am very excited and honoured to be taking on this role and, together with an exceptional team, look forward to building on what PERILS has achieved to date. I have experienced first-hand the many challenges the insurance industry faces in natural catastrophe insurance and recognise the criticality of comprehensive, accurate exposure and loss data in understanding the impact of natural disasters, particularly as the severity and frequency of such events increases. PERILS plays a vital data role and I’m eager to work with our data providers and clients as we look to explore new market opportunities.”
Sibylle Steimen of ALlianz Re, the PERILS Chairwoman, added, “Christoph Oehy is clearly a highly qualified and capable successor to our founding CEO Luzi Hitz. The PERILS board is fully confident that the handover of responsibility will be a very smooth process, ensuring we maintain our excellent relationships with our data providers and clients. We all look forward to the years ahead and are convinced that under Christoph’s leadership the PERILS team can elevate their products and services to the next level. I would also like to thank Luzi on behalf of the entire board for his stewardship and dedication which has made PERILS what it is today.”