OnRe, a licensed collateralized reinsurer and onchain asset manager, announced the appointment of Ben Fortune as its Chief Underwriting Officer.
Fortune will set and execute OnRe’s underwriting and insurance strategy, ensuring alignment with the Company’s objective of delivering consistent, premium-backed returns through its onchain capital platform, currently managing $170 mn.
He will oversee underwriting governance, portfolio construction, pricing discipline, and risk selection across all insurance and reinsurance activities.
On Re connecting $250 bn of alternative capital with the $800 bn global P&C reinsurance market. Beyond bringing additional capacity to the industry, OnRe provides investors access to a diversified portfolio through ONyc, a tokenized reinsurance vehicle designed for resilient performance across market cycles.
Fortune brings nearly 20 years of experience across reinsurance, underwriting, and actuarial disciplines. He most recently served as Chief Underwriting Officer at The Fidelis Partnership in Bermuda, where he oversaw underwriting performance across multiple lines of business.
Fortune held a number of senior roles over his nine years at Fidelis, having joined the firm at its foundation in 2015.
Prior to Fidelis, Fortune held analytical roles at Leadenhall Capital Partners, Aon, and Lockton, building a foundation in actuarial modeling and risk assessment that continues to inform his underwriting approach.
“Ben brings a depth of underwriting experience that is critical as we scale,” said Dan Roberts, Co-Founder and CEO of OnRe.
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.
Dan Roberts, Co-Founder and CEO of OnRe
“OnRe introduces a new model for capital formation in reinsurance,” said Ben Fortune. “The (re)insurance industry has long been a source of uncorrelated returns for investors whilst providing an essential home for society’s risk. 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.”
Bermuda is one of the world’s leading reinsurance hubs, home to more than $500 bn of reinsurance assets and a market that underpins a significant share of global catastrophe and specialty risk transfer.
OnRe is uniquely positioned within this ecosystem to provide long-term, aligned capital to the highest-performing players in the market, connecting Bermuda’s world-class reinsurance industry with the next generation of onchain capital.
Fortune is expected to join the Company in Bermuda, subject to immigration approval.
