ESG
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Steiger will oversee the new article 8 classified fund, based out of Zurich.
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The new fund generated 11.2% in profits for the period from 27 January to 31 October last year.
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Craig Hupper spent more than 25 years at TransRe, performing a variety of roles.
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The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.
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The two associations will work together on six matters, including climate change, cyber risks and taxation.
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The project which began last year in Zurich has now expanded to a group standing for $29bn of ILS assets under management globally.
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Alongside a parametric scheme, a further insurance pool providing up to $1bn in cover will recoup funds to benefit the post-quake recover.
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With fundraising still difficult outside the liquid ILS segment, managers are looking for ways to shore up their economic proposition.
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The executive worked for WTW for more than two decades.
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The structure envisages bringing in philanthropic capital to provide project funding to mitigate disaster risk as part of ILS deals.
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RenaissanceRe won the Manager of the Year title, while Beazley’s cyber cat bond won the non-life transaction of the year.