Andrew Smith to serve as Conduit Re’s Chief Risk and Sustainability Officer

Andrew Smith, Chief Risk Officer (CRO) at reinsurer Conduit Re, has seen his role expand to lead the firm’s climate change related initiatives, as Chief Risk and Sustainability Officer.

In his expanded position, Smith will support Executive Chairman, Neil Eckert, and will report to and join the independently chaired ESG Committee.

Smith brings more than 25 years of insurance and reinsurance industry experience to the role. Prior to joining Conduit Re, his experience included serving as CRO in the sector, leading risk and capital engagements as a consultant with four major accounting firms, and serving as independent director for commercial and philanthropic entities.

At Conduit Re, his role includes maintaining the risk framework and providing appropriate second line of defence challenge to all of the company’s operations.

He is also responsible for Conduit Re’s initiatives, reporting and external engagement on the topic of climate, serving as the firm’s representative on a number of external and internal committees.

Commenting on the appointment, Eckert said: “Climate change is an important issue for our industry and Conduit. Our approach to climate change is based on both taking positive steps to manage our own impact on the environment and engaging with wider stakeholders to promote positive change.

“Andrew is the right person to advance our climate related initiatives having championed environmental causes to support and actively engaged with industry groups on the topic. I look forward to developing our efforts together.”

Smith added: “This is an exciting opportunity to build on what we have achieved since Conduit Re’s launch. We are already highly climate aware in our decision making, are net carbon neutral and support transparency through participation in ClimateWise and the Sustainable Markets Initiative. We also support climate related activities and causes directly and through the Conduit Foundation.

“Action is necessary to limit the negative consequences of climate change and we at Conduit Re want to ensure we take the steps we can as a reinsurer, investor, employer, consumer of services, and as members of both the global business community and local community here in Bermuda.”

Source: Reinsurance News, Andrew Smith to serve as Conduit Re's Chief Risk and Sustainability Officer - Reinsurance News