Swiss Re leader to become CEO of catastrophe insurance data firm PERILS

Catastrophe insurance data firm PERILS has revealed a new chief executive officer (CEO) from Swiss Re, replacing Luzi Hitz who has been at the helm for 14 years. Under the new leadership, the company seeks to extend its geographic footprint and expand its range of product offerings.

Christoph Oehy (pictured) has been named new CEO of PERILS effective November 1, 2023.

The announcement forms part of the company’s succession planning strategy following the decision by current CEO Hitz to step down from the role. After November 1, Hitz will continue to work at PERILS in the role of senior adviser. He joined PERILS as CEO in 2009.

Oehy has over 20 years of international property and casualty underwriting experience. He will join PERILS from Swiss Re, where he is currently head of facultative property for several European countries. He joined Swiss Re in 2003 as a flood risk specialist and has held numerous senior roles, including leading the Cat Steering team responsible for managing the company’s natural catastrophe portfolio and heading the P&C treaty underwriting for Swiss Re Canada.

Based in Zurich, Oehy will be responsible for leading PERILS’ teams across Europe, Asia-Pacific, and Canada, ensuring that the company continues to improve the availability of insurance market data relating to natural catastrophes. In addition, he will lead the ongoing strategic development of the organisation, exploring opportunities to extend PERILS’ geographic footprint and expand its range of product offerings.

Launched in 2009, PERILS currently provides industry-wide natural catastrophe exposure and loss data for events including windstorm, flood, fire, earthquake, and tropical cyclone across 21 countries. Most recently, the company expanded its territorial remit to include European flood and Japanese wind and flood.

Hitz said: “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 commented: “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, PERILS chairwoman, said: “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.”

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