Fortitude Re has named Ming Zhang as their new Chief Risk Officer and Andrew Sooboodoo as its new Chief Regulatory Officer.
The Fortitude Re Group is a powerhouse in the insurance arena, overseeing around $72bn in general and separate account insurance reserves. The group proudly administers over 4.5m insurance policies, highlighting its vast reach and influence in the insurance sector.
Ming Zhang, who will also be part of Fortitude Re’s Executive Committee, is entrusted with the significant task of heading the company’s corporate risk management strategy, pushing forward its robust risk culture. On the other side, Andrew Sooboodoo is set to transition from his previous role as Chief Risk Officer. He will step into the newly minted position of Chief Regulatory Officer, ensuring the firm remains on a growth trajectory and continues to satisfy its global regulatory counterparts.
With a commendable background, Zhang previously showcased his prowess at SiriusPoint as the Chief Investment Officer (CIO), looking after the investment team, framing and executing global insurer’s investment and hedging strategies, and managing daily investments.
He also held esteemed positions at both MetLife and AIG. Sooboodoo, on the other hand, serves as a Director of both BILTIR and ABIR, Bermuda’s Life and P&C Reinsurance Associations. Before Fortitude Re welcomed him as the Chief Risk Officer in November 2021, he held numerous leadership roles in Bermuda.
Andrew Sooboodoo’s move into the Chief Regulatory Officer role comes as part of Fortitude Re’s forward-thinking strategy, highlighting the importance they place on regulatory compliance, especially as the business continues its growth journey.
Fortitude Re CEO Alon Neches said, “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. 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, rigor, and thoughtfulness to our engagement with the regulatory community.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
