AI-powered (artificial intelligence) cyber specialty insurer Corvus Insurance has announced the appointment of Albert Zhou (pictured) as chief risk officer.
In this role, Zhou will be responsible for implementing best-in-class risk and actuarial practices by overseeing pricing, reserving, systemic risk modelling, risk accumulation, and aggregation. He will also manage risk-taking through Corvus’ captive, Corvus Reinsurance Company.
Zhou has over 12 years of experience in various insurance functions, including actuarial, risk, and analytics. Prior to joining Corvus, he served as the chief actuarial & analytics officer at SynchronoSure, an early-stage commercial managing general agent. Additionally, in 2021, he founded a privately owned arbitrage trading firm called Toyl Ventures, which specialises in digital assets.
Zhou also spent seven years at Third Point Re and SiriusPoint, where he held the position of SVP, actuarial director and led the US actuarial team in pricing, reserving, capital modelling, and risk management. He started his career as an actuarial consultant at Ernst & Young and is a fellow of the Casualty Actuarial Society.
As chief risk officer, Zhou will join the leadership team and will report to Prashanth Gangu, president of Corvus Insurance.
“Albert’s deep experience and leadership will be instrumental in advancing Corvus’s industry-leading approach to managing cyber risks on our journey to be the dominant cyber insurance player,” said Gangu.
“I was drawn to Corvus because of its strong underwriting results, which are enabled by an innovative and collaborative culture consisting of top-tier talent from both technology and insurance backgrounds,” added Zhou. “Cyber insurance is an exciting, non-commoditised insurance product that provides critical coverage to our policyholders while still allowing plenty of room for innovation and growth.”
Zhou’s appointment comes during a period of strong momentum for Corvus. In 2022, the company experienced an 80% growth in cyber premiums and achieved a US industry-leading loss ratio of 36%.
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