Industry executives assume leadership roles at ABIR

The Association of Bermuda Insurers & Reinsurers (ABIR) has made two new leadership appointments of member-company industry executives.

Edward Mishambi of RenaissanceRe will become chair of ABIR’s policy committee. The committee reviews insurance regulation in Bermuda and overseas, international regulatory standards, public policy in Bermuda, US natural disaster policy and regulation, and ABIR’s policy positions on climate risk, adaptation and mitigation.

ABIR also appointed Gemma Carreiro of Hamilton Insurance Group as deputy chair of the policy committee.

Albert Benchimol, president and CEO of Axis Capital and current chair of ABIR, said: “Edward and Gemma are highly regarded for their wealth of industry expertise in public policy matters affecting the Bermuda market. Their current, global executive positions at RenaissanceRe and Hamilton Insurance Group make them uniquely qualified to serve Bermuda and ABIR in these leadership roles.”

Edward Mishambi is senior vice president, head of qualitative risk management and external supervisory affairs at RenaissanceRe, which he joined in 2009. Mishambi is responsible for leading various components of enterprise risk management with respect to strategic planning and execution of enterprise risk and capital reporting, and managing relationships with rating agencies and regulators across RenaissanceRe’s owned and managed balance sheets on behalf of partner or third-party capital providers. Prior to joining RenaissanceRe, Mishambi worked at PricewaterhouseCoopers in Bermuda and with Deloitte in East Africa.

Carreiro serves as general counsel to Hamilton Insurance Group. She came to Hamilton from PartnerRe, where she was secretary to the board and general counsel to PartnerRe’s Bermuda subsidiaries. Prior to that, Carreiro was an associate at Conyers, where she specialised in corporate law with a particular focus on insurance and reinsurance regulatory matters.

Mishambi and Carreiro succeed Leila Madeiros, head of Bermuda compliance and regulatory affairs for AXA XL. She led the ABIR policy committee from January 2018, having previously served as senior vice president, deputy director and corporate secretary of ABIR.

“The ABIR Board and member companies are thankful to Leila for her technical leadership to achieve and maintain the recognition of Bermuda under US, EU and international regulatory regimes,” said John Huff, president & CEO of ABIR. “She was also instrumental in raising the profile of the Bermuda market’s role in the important work ahead, including closing the insurance protection gap caused in part by the increased severity and frequency of climate risk.”