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Insurance leaders join Insurance Development Forum

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Chief executives from leading insurance companies will serve on the steering committee of the Insurance Development Forum (IDF), set up to optimise the use of insurance to protect vulnerable populations, companies and public institutions against risks and shocks.

Leading insurance CEOs appointed to serve on the High Level Steering Committee include:

  • Kathy Bardswick President & CEO The Co-operators Group
  • Inga Beale CEO Lloyd’s
  • Albert Benchimol President & CEO AXIS Capital
  • Gregory Case President & CEO Aon Corporation
  • Jean-Louis Davet CEO Mutuelle Générale de l'Education Nationale (MGEN)
  • Denis Duverne Deputy CEO AXA
  • Daniel Glaser President & CEO Marsh & McLennan Companies
  • John Haley CEO Willis Towers Watson
  • Denis Kessler Chairman & CEO SCOR SE
  • Christian Mumenthaler CEO Reinsurance Swiss Re
  • Christopher Swift Chairman & CEO The Hartford
  • Maurice Tulloch Chairman Aviva Global Insurance
  • Nikolaus von Bomhard Chairman Munich Re

IDF Chair Stephen Catlin said:

“This risk management expertise will enormously benefit governments since research has shown that a 1% increase in insurance penetration can reduce the disaster recovery burden on taxpayers by 22%. These insurance industry CEOs will commit their time and their staff’s risk expertise to help protect people and property from natural disasters. ,”

“This unique project with the leaders of the UN and the World Bank Group will be closely watched by all to see that we deliver on our promise to support society’s need for natural disaster risk awareness, risk management, resilience and insurance protection.” 

Dedicated working groups composed of public and private sector representatives will be in charge of delivering on dedicated activities in key areas; shape responding programmes and resource requirements; and coordinate related initiatives and meetings. 

The Start Network will be represented on the 'Insurance and the Humanitarian System' working group, by Deirdre O'Sullivan-Winks. The Start Network is also the official organising partner for civil society representation. Joining leaders from the UN, the World Bank Group, the Financial Stability Board and other international institutions. Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board (FSB), will join the IDF Steering Committee in his role as FSB Chair.

The IDF is chaired by Stephen Catlin, Executive Deputy Chairman, XL Catlin and co-chaired with Joaquim Levy, CFO, the World Bank Group; and Helen Clark, Administrator, UN Development Program (UNDP). 

The IDF is a public/private partnership led by the insurance industry and supported by international organisations and the High Level Steering Commitee has been created to apply insurers’ risk expertise to the insurance related challenges and opportunities presented by the UN Sustainable Development Goals, the Paris Climate Agreement and the Sendai Framework for Disaster Risk Reduction.

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