Fortitude Re promotes new SVP of enterprise risk

Fortitude Re has promoted head of internal audit Jamie Schmerer to be senior vice president of enterprise risk.

The Bermuda-based re/insurer said Schmerer will lead Fortitude Re’s regulatory relations efforts in Bermuda, as well as overseeing and enhancing the enterprise risk management framework of Fortitude Re including, risk governance, risk appetite, and risk reporting. Additionally, he will oversee the operational risk function to ensure seamless integration of operational risk management into the company’s overall enterprise risk framework.

Prior to joining Fortitude Re in 2019, Schmerer held a leadership role at KPMG Bermuda’s internal audit and risk consulting practice, advising a portfolio of public and private clients in the insurance, reinsurance, banking, and asset management sectors.

Ming Zhang, Chief Risk Officer at Fortitude Re said: “Jamie’s expertise, coupled with his track record of success makes him an ideal candidate for this role. Jamie’s appointment highlights our commitment to our teammates’ growth and opportunity at Fortitude Re and is a testament to our culture and deep bench of talent, of which we are immensely proud.”

Schmerer was recently appointed to the board of the Association of Bermuda Insurers and Reinsurers (ABIR).

He said of the ABIR appointment: “I am honoured to serve on the board of directors for this organisation, which is vital to the growth and success of the reinsurance industry in Bermuda. 

"I look forward to working with my fellow directors to advance advocacy and foster meaningful change both within the industry and the Bermuda community.”

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