Our Responsibility
Ariel Re strives to be a responsible corporate citizen in all the jurisdictions in which we operate.
We operate a devolved ESG governance model with responsibilities for ESG decisions embedded throughout the organisation.
Overall oversight, coordination and direction is provided by the ESG Working Group. Staff engagement is encouraged at all levels.
Our ESG objective is to meet the expectations of Ariel Re’s business partners and stakeholders on ESG topics in a way that positively influences their evaluation of our business.”
David Hosier Head of GovernanceEnvironmental
As a property reinsurer specialising in protection against catastrophes, Ariel Re are experts in understanding weather patterns and our Research and Development team are at the vanguard of climate change academic efforts.
We also support climate change causes in other ways. In 2023 our Titania Re catastrophe bond was the first of its kind to have an embedded carbon offset feature providing an environmentally friendly way for business and communities to rebuild in the wake of a natural disaster.
Ariel Green provides Technology Performance Insurance to hasten the transition to clean energy and achieve Net Zero by providing customized insurance solutions to get clean energy projects financed, built and operating
The Clean Energy Transition
Ariel Re is committed to providing the insurance solutions that are needed to help businesses around the world make the transition to clean energy. We created our own renewable energy division, Ariel Green, to accelerate innovation in solar, energy storage, hydrogen and bioenergy to help curb the effects of climate change.
Ariel Green has insured assets covering more than 30 clean energy technologies on six continents and Ariel Re is proud to be in the vanguard of efforts by businesses to use innovative technology to tackle the challenges of climate change by moving towards a greener economy based on renewable energy.
Our Environmental Themes
- Sustainable Underwriting
- Continue to maintain catastrophe models that support sustainable underwriting through climate change.
- Grow existing renewable energy performance guarantee book.
- Investigate ESG data enhancement for assumed treaty and retro books, in conjunction with brokers & the LMA.
- Sustainable Operations
- Progress towards net nil carbon emissions.
- Review options for measures to decrease wider environmental footprint of our office spaces.
- Responsible Investment
- Adoption of sustainable investment policies.
Our Social Themes
Culture, Talent Development, D&I
- Monitor of cultural indicators through staff survey and engagement metrics.
- Maintain visibility of existing staff engagement in colleague clubs, including participation amongst new joiners.
Community & Giving
- Maximize community engagement and charity work in all offices, encouraging both global and local efforts.
- Partnership with organizations that make significant local impact.
Governance
Ariel Re has a well-developed governance structure that is based on the UK Corporate Code as well as other regulatory requirements, this is overseen by a dedicated Chief Governance Officer.
Integrity is driven by a comprehensive suite of compliance policies that ensure fair practices as well as sound business ethics.
We will always focus on doing the right thing to preserve our reputation and maintain our fiduciary responsibilities to our business partners.
Our Governance Themes
- Decision Making
- Ensuring that all business decisions are made collaboratively and with full consideration of ESG implications.
- Compensation
- A commitment to fair and equitable compensation schemes throughout Ariel Re.
- Disclosure
- Developing and publishing ESG reports to inform all external and internal stakeholders.
Directors
Our superior governance is only possible because of the world class boards that serve Ariel Re, membership is outlined below:
Ariel Re
Jim Stanard
Chairman
Allan Cohen
Chief Executive Officer and Managing Director of Pelican Ventures
Bob Deutsch
Compensation Committee Chair
Calvin Dong
Managing Director at J.C. Flowers & Co
Eric Rahe
Managing Director and Co-President at J.C. Flowers & Co
Jayant Khadilkar
Risk Committee Chairman
Matt Ostermann
Vice President at Pelican Ventures
Ryan Mather
Chief Executive Officer
Steve Bensinger
Audit Committee Chair
Jim Stanard
Chairman
Founding Investor of Pelican Ventures. Co-founder TigerRisk, V3 Insurance Partners. Founder, Chairman and CEO of Renaissance Re
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Allan Cohen
Chief Executive Officer and Managing Director of Pelican Ventures
Chief Executive Officer of Pelican Ventures. Formerly at Hamilton Re, Towers Watson, Travelers. 13 years in the insurance industry
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Bob Deutsch
Compensation Committee Chair
Chairman of Pelican Ventures Group LLC. Formerly at Hamilton Insurance, Ironshore, CNA and Executive Risk. 40+ years in the insurance industry
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Calvin Dong
Managing Director at J.C. Flowers & Co
Managing Director at J.C. Flowers & Co. Formerly at Barclays Financial Institutions Group
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Eric Rahe
Managing Director and Co-President at J.C. Flowers & Co
Managing Director and Co-President at J.C. Flowers & Co. 30+ years in the insurance industry. A member of Ariel Re’s founding investor group and Board Director
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Jayant Khadilkar
Risk Committee Chairman
Managing Director at Pelican Ventures. Formerly at TigerRisk and RenRe. 30+ years in the insurance industry
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Matt Ostermann
Vice President at Pelican Ventures
Vice President at Pelican Ventures. Formerly at a Miami-based private investment firm and a New York-based investment banking advisory firm.
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Ryan Mather
Chief Executive Officer
Ryan is the current CEO of Ariel Re. Ryan was a founding member of Ariel Re in 2005 and previously held a variety of roles including Group Chief Underwriting Officer. Previously, he was the Global Head of Reinsurance for Argo Group and has also held underwriting roles at Lloyd's, Gerling Global Re, and Chartwell Re. Ryan is an associate of the Chartered Insurance Institute and is a Genetics graduate from the University of London.
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Steve Bensinger
Audit Committee Chair
Formerly CFO at AIG and other senior executive roles. Currently sits on multiple public and private boards. 40+ years in the insurance industry
View on LinkedInAriel Re Managing Agency Limited - Non-Executive Directors
Mark De Saram
Chairman of the Board
Belinda Schofield
Chairman – Risk and Capital Committee
Mary Trussell
Chairman - Audit Committee
Mary Trussell
Chairman - Audit Committee
Mary Trussell is a retired Big 4 insurance audit and advisory partner with a 30+ year career across multiple geographies. Expert in navigating changing business environments, regulations and standards and delivering transformational change. Combines strategic and financial experience with a sound understanding of financial oversight, risk management, culture, and diversity. Accomplished at influencing and advising across Boards and Committees, now extending into non-executive board roles. Mary currently serves as a Non-Executive Director, chair of Audit Committee and member of Risk Committee, for Tokio Marine Syndicates Limited.
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Social
People are at the core of what we do and our corporate culture is second to none. Maintaining an inclusive workforce is very important to us, we conduct regular engagement surveys and monitor diversity statistics via our Diversity, Equity and Inclusion Colleague Club.
In 2023, Ariel Re’s Managing Agency was recognised as one of the Lloyd’s businesses to have exceeded the Corporation’s market-wide target of women filling 35% of leadership roles. Ariel Re is proud to support the market’s collective and determined focus on improving representation in key groups to encourage progress in Diversity and Inclusion.
We also want to make a difference in all the wider communities in which we operate. Our Charity Clubs in London and Bermuda donate $215,000 annually to worthy local causes.
If you would like to apply for a donation from the Ariel Re Charity Committee, please click the link below to fill out the donation form: