Hiscox Bermuda has appointed Dr. Michael Palmer as Head of Analytics and Research for the group’s Bermuda operation. He will report to Damien Smith, Hiscox Bermuda’s Underwriting Director, and “will take responsibility for the analytics team in Bermuda, helping to develop the company’s understanding of all aspects of catastrophe risk,” said the announcement.
Palmer joined Hiscox’s London office in 2005 where he was Catastrophe Research Manager. He has a “research background from Oxford University where he completed a PhD in atmospheric science, carrying out climate model experiments to investigate different aspects of climate change. This was followed up by post-doctoral work at the Rutherford Appleton Laboratory (Oxford, UK), investigating the impact of the tropical upper atmosphere on the weather experienced at the surface.”
Smith noted that “keeping on top of the strengths and weaknesses of the catastrophe models the industry uses is a fundamental part of helping us to select the risks we take and ensuring we achieve the right premium rating.” He described Palmer’s appointment as a “great asset to us as we look to build a class-leading analytics team to support and drive the profitability of the company.”
Dr Palmer added: “Bermuda is an exciting place to be when it comes to the science of catastrophe risk and I am looking forward to building on the work that has already taken place here to support the management of our reinsurance portfolio, as well as looking for new opportunities in the market.”
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