RMS, the world’s leading catastrophe risk modeling company, announces the appointment of Michael Steel as global head of business development, joining the RMS Executive Committee.
Mike first joined RMS in 2016 to help drive innovations to solve the key risk management challenges faced by insurers and had been serving in a strategic advisory role at RMS prior to his appointment. He has 30 years’ experience in risk and capital management gained in the insurance industry.
Steel 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.”
Karen White, Chief Executive Officer 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 wholistic, pragmatic approach to bringing innovation to the insurance industry. ”
Prior to RMS, Mike was the Group Chief Risk Officer at AXIS Capital, following a career in reinsurance broking, including 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 addition to his role with RMS, Mike serves as an Independent non-executive director on the board of Allianz Re Dublin dac.Michael 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.
Mike will be based in the RMS London office and report directly to Karen White, Chief Executive Officer at RMS.