Global catastrophe risk modeling company RMS names Michael Steel as global head of business development, joining RMS executive committee.
Steel will be based in the RMS London office and report directly to Karen White, chief executive officer at RMS.
He brings 30 years’ experience in risk and capital management gained in the insurance industry. He joined the firm in 2016 having served in a strategic advisory role prior to his appointment.
Before joining RMS, Steel held the position of chief risk officer at AXIS Capital after serving 12 years at Benfield (now Aon Benfield) where he led the ReMetrics team in addition to leading teams in the development innovative solutions in the reinsurance and capital markets.
In conjunction to his role with RMS, Steel serves as an independent non-executive director on the board of Allianz Re Dublin DAC.
He has previously served as an independent non-executive director on the board of Berkshire Hathaway’s International business, an appointed director on the Casualty Actuarial Society and chairman of the Geneva Association’s CRO Network.
White, CEO at RMS, said: “Mike brings a wealth of experience and industry knowledge of the global insurance market to his role. RMS clients have benefitted from Mike’s thought leadership and holistic, pragmatic approach to bringing innovation to the insurance industry. His unique perspectives and strong industry relationships built over years make him ideally suited to advance our business development efforts to bring new and differentiated value to our customers as our market evolves.”
Steel, global head of business development at RMS said: “The insurance industry is at a key inflection point in terms of harnessing advances in data, analytics, and technology. RMS has always been the leader in catastrophe modeling and the significant investments it is making in technology solutions will assist the industry to navigate through this transformation. I am excited by the direction and potential of RMS, and in our ability to deliver, innovate, and grow.”