Fortitude Re hires new chief risk officer from SiriusPoint

Fortitude Re has appointed chief risk officer Andrew Sooboodoo to the role of chief regulatory officer as it bids to maintain close contact with its regulators.

Sooboodoo will be replaced as chief risk officer by Ming Zhang, who the joins the Bermuda-based company from SiriusPoint, where he was chief investment officer.

In Sooboodoo’s new role, he will ensure that legacy re/insurer Fortitude Re continues to maintain a market leading presence with its global regulatory constituents as the business continues to grow and mature”, said chief executive officer Alon Neches.

“The essence of Fortitude Re is in the quality of our teammates, and we couldn’t ask for higher calibre professionals than Ming and Andrew to lead their respective functions,” Neches said. “Ming brings with him a wealth of experience in the insurance and reinsurance industry and extensive expertise in investments and risk management.

“As our founding chief risk officer, Andrew has already built a strong foundation in that discipline, and he is now carrying that forward to ensure we apply the same constructiveness, rigour, and thoughtfulness to our engagement with the regulatory community.”

Zhang was responsible for leading SiriusPoint’s investment team, setting and implementing the global insurer’s investment and hedging strategies, and managing day-to-day investments. Previously, he held leadership positions at MetLife and AIG.

Sooboodoo is a director of both BILTIR and ABIR, Bermuda’s life and P&C re/insurance associations respectively. He held various leadership roles in Bermuda before joining Fortitude Re, which is active in the life and property and casualty insurance sectors, as chief risk officer in November 2021.