ABIR appoints new leadership on its policy committee

The Association of Bermuda Insurers and Reinsurers (ABIR) has appointed RenaissanceRe’s Edward Mishambi as chair, and Hamilton Insurance’s Gemma Carreiro as deputy chair, of its policy committee.

The policy committee reviews insurance regulation in Bermuda and overseas, international regulatory standards, public policy in Bermuda, US natural disaster policy and regulation. It also develops ABIR’s policy positions on climate risk, adaptation and mitigation.

Mishambi is senior vice president and head of qualitative risk management and external supervisory affairs at RenaissanceRe, which he joined in 2009. He previously worked at PricewaterhouseCoopers in Bermuda and with Deloitte in East Africa.

Carreiro is general counsel at Hamilton Insurance Group, having joined from PartnerRe, where she served as secretary to the board and general counsel to PartnerRe’s Bermuda subsidiaries. She was previously an associate at Conyers, specialising in corporate law with a focus on re/insurance regulation.

Mishambi and Carreiro succeed Leila Madeiros, head of Bermuda compliance and regulatory affairs at AXA XL, who led the policy committee from January 2018. John Huff, president and CEO of ABIR, thanked Madeiros for her “technical leadership to achieve and maintain the recognition of Bermuda under US, EU and international regulatory regimes.” He also singled out her work closing the insurance protection gap caused in part by the increased severity and frequency of climate risk.

Albert Benchimol, president and CEO of Axis Capital and current chair of ABIR, said both appointments are “highly regarded for their wealth of industry expertise in public policy matters affecting the Bermuda market.” Their roles at RenaissanceRe and Hamilton Insurance, respectively, made them “uniquely qualified to serve Bermuda and ABIR in these leadership roles,” he added.