PERILS AG, the independent Zurich-based company established to aggregate and provide industry-wide European catastrophe insurance data, appointed Luzi Hitz as chief executive officer.
Hitz will build the PERILS team and develop the PERILS offering, initially providing industrywide exposure and loss information on European wind risk (winter storms), and, over time, expanding to include other perils and regions.
Hitz has a 14-year track record in the reinsurance industry. He is a Swiss native and has a masters degree in geology and a PhD in geophysics. After working in the mining and oil
industry, Hitz entered the reinsurance industry in 1995 when he joined the earthquake risk group at Swiss Re.
In 2001, he moved to Hong Kong to head the catastrophe risk management unit of Swiss Re's Asia-Pacific business division. He was later appointed head of property & casualty treaty underwriting for the greater China region.
In 2006, Hitz returned to Switzerland to join Glacier Group, an international insurance and reinsurance organization, where he managed the company's international book of property and casualty treaty business.
I am very proud and excited to be at the helm of this important industry initiative," Hitz said. "I am convinced that PERILS will become an indispensable industry benchmark and will greatly enhance the risk transparency and understanding of catastrophe exposures throughout Europe and beyond. This will benefit both the demand and supply sides of our industry, creating new economic value which will form the basis of PERILS success.