PERILS names head for APAC region

Reinsurance veteran of 18 years to head expansion of catastrophe insurance data into Asian markets

PERILS names head for APAC region

Insurance News

By Gabriel Olano

PERILS AG, a Swiss-headquartered company providing industry-wide catastrophe insurance data, has appointed Darryl Pidcock as head of PERILS Asia-Pacific.

Based in Sydney, Pidcock will be in charge of growing PERILS’ offering in the Asia-Pacific region. Currently in the Australian market, the PERILS Industry Exposure & Loss Database will expand into other Asia-Pacific markets. He will also work with the NatCatDAX Project, a Singapore-based industry initiative which aims to increase data availability for natural catastrophe insurance in Asia.

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Pidcock has 26 years of experience in the financial industry, including 18 years in reinsurance. He joined Swiss Re Australia as a credit specialist and property & casualty client manager in 1999. In 2005, he relocated to Hong Kong to head the Hong Kong and Taiwan property & casualty, life, and health business units. He also served as general manager of the Hong Kong Swiss Re branch. During his tenure, he was appointed as an adviser by the Hong Kong Government Secretary of Finance.

In 2010, Pidcock was named head of Swiss Re’s Korea branch, then in 2013, he was promoted to head of client management for China. Finally, in 2015, he moved to Singapore to work as head of the client management team for Swiss Re Life & Health in Southeast Asia.

“Over the years, PERILS’ Cat exposure and loss data have significantly increased the transparency and understanding of Cat risk in the covered territories, and have facilitated more than US$14 billion of risk capital via Cat bonds and traditional reinsurance solutions,” said Luzi Hitz, chief executive officer of PERILS. “With Darryl joining PERILS, we are confident that we can achieve a similar feat in the Asia-Pacific region.”

Related stories:
China to form earthquake insurance system
Asian urbanisation driving disaster losses
Global insured disaster losses hit four-year high

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