OnRe, the licensed collateralized reinsurer and on-chain asset manager, has announced that it has appointed Ben Fortune as its new Chief Underwriting Officer (CUO).In his new role, Fortune will build and execute OnRe’s underwriting and insurance strategy, aligning with the reinsurer’s strategy of delivering consistent, premium backed returns through its on-chain capital platform, which currently manages $170 million.As CUO, he will also oversee underwriting governance, portfolio construction, pricing discipline, and risk selection across all of OnRe’s insurance and reinsurance activities.Overall, Fortune brings nearly two decades of industry expertise across reinsurance, underwriting, and actuarial disciplines towards his new role.

Most recently, he served as the CUO of The Fidelis Partnership (TFP) in Bermuda, where he oversaw underwriting performance across multiple lines of business.Throughout his tenure at Fidelis, Fortune held a number of senior roles, having joined the firm at its foundation in 2015.Before he joined Fidelis, Fortune held analytical roles at specialist investment manager Leadenhall Capital Partners LLP, and broker’s Aon and Lockton, where he gained deep experience in actuarial modeling and risk assessment.

OnRe stated that Fortune’s appointment reflects the reinsurer’s continued investment in underwriting capability as it continues to expand its role as a capital partner to the global reinsurance sector.Dan Roberts, Co Founder and CEO of OnRe, commented: “Ben brings a depth of underwriting experience that is critical as we scale.His track record across portfolio construction and disciplined risk selection strengthens our ability to scale as a capital partner in Bermuda and deploy across a global portfolio.

This appointment is a key step in further institutionalizing our underwriting function.” Addressing his appointment, Fortune, said: “OnRe introduces a new model for capital formation in reinsurance.The (re)insurance industry has long been a source of uncorrelated returns for investors whilst providing an essential home for society’s risk.” He continued: “As the industry modernizes and integrates new technologies alongside established market infrastructure, connecting scalable onchain capital with real world risk and yield is an exciting and inevitable next step in the industry’s evolution.“Establishing a disciplined underwriting strategy and continuing to partner with market leaders in the (re)insurance industry enables OnRe to build a high quality and resilient book of business around this emerging source of capital.

I am excited to join the team and contribute to its next phase of growth.” Fortune is expected to join OnRe in Bermuda, subject to immigration approval..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.