Peak Re, the Hong Kong based global reinsurance company, has announced that its Chief Reserving Actuary David Menezes is being promoted to Deputy Chief Risk Officer and will succeed Eckart Roth as Chief Risk Officer when he retires later this year.
Roth is expected to retire in September 2022 after a thirty year career in the reinsurance industry.
He has worked at Peak Re since 2012, having joined as Chief Underwriting Officer and then becoming Chief Risk Officer of the reinsurance firm in 2015.
Menezes (pictured) has been with Peak Re since 2016, based in Hong Kong. Before joining the reinsurer he worked at consultancy Deloitte, also in Hong Kong and has also worked in the UK for Atrium Underwriting, RSA, Mercer and Towers Perrin in actuarial roles during his career.
Menezes will remain based in Hong Kong and in his new position will oversee the Risk Management, Compliance and Legal functions of Peak Re, reporting directly to Franz Josef Hahn, Chief Executive Officer.
The company expects to announce a replacement to fill Menezes role in the near future.
“I would like to congratulate David, who has been with us since 2016, on his new role,” commented Hahn. “He brings with him more than 17 years of experience in both regional and international insurance and reinsurance, and across different actuarial, reserving and controlling functions. He has worked closely with renowned global and regional insurers and has a deep understanding of enterprise risk management which augurs well for his new role.”
“While Eckart’s retirement is still a few months ahead, I would like to take this opportunity to thank him for his steadfast support and leadership,” Hahn continued, “Eckart has been instrumental in the founding of Peak Re and guiding the Company’s growth over the past decade.”
As a reminder, Peak Re is currently in the market with its first ever catastrophe bond, the $75 million Japan typhoon focused Black Kite Re Limited (Series 2022-1) transaction.