AIG’s AlphaCat hires Adam Szakmary as CUO

AIG’s AlphaCat hires Adam Szakmary as CUO

AlphaCat Managers, the insurance-linked securities and collateralised reinsurance investment management entity of insurance coverage giant American International Group (AIG), has actually protected a prominent new hire in Adam Szakmary, who will sign up with AlphaCat as Chief Underwriting Officer (CUO). Szakmary is currently a Co-CUO for Hiscox Groups reinsurance arm, Hiscox Re & & ILS and likewise holds the function of head of underwriting for Hiscox Insurance Company (Bermuda) Ltd
. He signed up with Hiscox back in 2017, following a variety of years at Bermudian reinsurance group Montpelier Re, where he also had portfolio management and later executive control of the firms third-party capital ILS management system.
Szakmary began at Montpelier Re as an Associate Terrorism underwriter based in Bermuda in 2004. He went on to relocate to the London market and became an underwriter of direct and facultative home threats for Montpelier Res Lloyds syndicate in 2007.
He went back to Bermuda in 2009 and ended up being Montpelier Res Vice President of Underwriting and Risk Management, then transitioned onto the third-party capital side of the reinsurance firm, initially as Underwriting Director and Portfolio Manager for Blue Capital Management, then later taking the CEO role at the system in 2015.
Szakmary is well-known in the market for his strong underwriting management and understanding of all types of reinsurance capital, in addition to of the importance of having a strong fiduciary responsibility to third-party financiers.
We understand that Szakmary will sign up with AlphaCat as CUO in the second-half of this year, subject to the normal cautions of satisfying contractual commitments and Bermuda employment-related approvals.

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