Résumé

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212.380.3738    •    Frank.Schmid@frankschmid.com    •    linkedin.com/in/frankandreasschmid

Insurance executive and financial economist with senior leadership experience across Fortune 500 carriers, the Federal Reserve System, and academia. Has led landmark reinsurance transactions, enterprise technology transformation, regulatory initiatives, and the application of advanced analytics to consequential commercial and strategic decisions.

PROFESSIONAL EXPERIENCE

General Reinsurance Corporation (Gen Re), Stamford, CT, 2020–Present

Senior Advisor, April 2026–Present

Partner with the Executive Chairman on strategy, technology, and organizational priorities.

Chief Technology Officer, August 2020–March 2026

Led the restructuring of Gen Re’s global technology organization from a service-delivery function into a customer-aligned organizaton focused on engineering, data, and innovation.

  • Directed enterprise AI adoption, combining technology deployment with cross-functional workflow redesign to deliver measurable operating change.

  • Chaired the Responsible AI Committee, establishing governance for AI adoption and representing Gen Re in external engagement on responsible AI.

  • Led the development of a global cloud data platform, balancing cross-border regulatory and privacy requirements with enterprise-wide access to data and analytics.

American International Group (AIG), New York, NY, 2012–2020

Head of Property & Casualty Deals — Fortitude Re, 2018–2020

Led corporate development for Fortitude Re — AIG’s newly carved-out reinsurance subsidiary — establishing the framework for domestic operations and international expansion.

  • Led the P&C deal team in identifying market opportunities and establishing the subsidiary’s commercial approach to retroactive reinsurance.

  • Directed the development, with capital modeling and investment teams, of a proprietary pricing framework for retroactive reinsurance.

  • Established the organization’s approach to evaluating and pricing complex retroactive reinsurance structures, grounded in asset pricing theory.

Head of P&C Inforce Management — General Insurance and Legacy, 2017–2018

Expanded responsibility following the AIG–Berkshire Hathaway transaction to include both General Insurance and Legacy portfolios.

  • Structured and negotiated a proposed retroactive reinsurance solution for a $3B portfolio of long-dated and complex risks.

  • Developed an empirical framework identifying structural drivers of U.S. jury verdicts, translating the findings into commercial auto risk appetite and underwriting guidelines.

  • Chaired the AIG Global Benefits Network, leading an operational transformation that included the buyout of minority shareholders.

Head of P&C Inforce Management — Legacy, 2016–2017

Lead architect of the AIG–Berkshire Hathaway Adverse Development Cover — a $10B retroactive reinsurance transaction covering $35B in long-tail U.S. commercial liabilities.

  • Led a quantitative actuarial team in evaluating the underlying liabilities and developing the technical pricing and strategic rationale supporting the $10B nonbinding indication.

  • Coordinated a nine-month transaction process across Actuarial, Claims, Finance, Investments, Legal, and Risk.

  • Moved from CEO approval to definitive close in early 2017, transferring high-severity, long-dated liabilities and securing balance-sheet stability and earnings protection.

Head of Group Benefits — Global Disability Pricing Standards and Strategy, 2015–2016

Led a P&L turnaround of Group Benefits through divestitures, lean operations, and underwriting discipline.

  • Restructured the unit’s cost base while preserving service for in-force policies.

  • Negotiated and executed business sales and quota-share reinsurance agreements to free capital and refocus the portfolio.

  • Designed and executed an exit solution for a regulatory-sensitive health insurance line that satisfied compliance requirements while mitigating reputational and financial risk.

Head of Actuarial Econometrics and Innovative Actuarial Models, 2014–2015

Led a multidisciplinary team of actuaries, claims executives, and data scientists, producing an estimated $500M loss-mitigation benefit through advanced underwriting and claims strategies.

  • Developed and led implementation of a workers’ compensation claims settlement strategy using machine learning to identify high-risk claims and set optimal settlement targets.

  • Built a proprietary econometric model to identify structural drivers of casualty loss trends, quantify their impact, and inform underwriting strategy.

Director, Casualty Risk, 2012–2014

Led the development of AIG’s property & casualty liability models for the Federal Reserve stress-testing program.

  • Led a team of risk modelers in identifying and quantifying key drivers for P&C liabilities.

  • Drew on prior Federal Reserve experience to align internal risk modeling with regulatory expectations and support engagement with federal overseers.

BOARD MEMBERSHIPS

  • Gen Re AG, Germany — September 2020–September 2026

  • Eaglestone Reinsurance Corporation, USA — February 2016–March 2019

  • AIG Global Benefits Network, Belgium — Chairman, August 2015–October 2018

EARLIER PROFESSIONAL EXPERIENCE

Director and Senior Economist — National Council on Compensation Insurance

Senior Economist — National Council on Compensation Insurance

Senior Economist — Federal Reserve Bank of St. Louis

Director and Senior Economist — National Council on Compensation Insurance

Senior Economist — National Council on Compensation Insurance

Senior Economist — Federal Reserve Bank of St. Louis

MILITARY SERVICE

German Navy Reserve, First Lieutenant

EDUCATION

  • Dr. habil. (post-doctoral degree), Finance — University of Lüneburg, Germany

  • Dr. rer. pol. (doctorate), Economics — University of Lüneburg, Germany

  • Dipl.-Volkswirt (M.A. equivalent), Economics — University of Göttingen, Germany

  • Vordiplom (B.A. equivalent), Economics — University of Heidelberg, Germany

ACADEMIC APPOINTMENTS

  • Associate Professor of Finance, Auckland University of Technology, New Zealand

  • Extraordinary Professor of Finance, University of Lüneburg, Germany

  • Visiting Professor of Finance, Goethe-University Frankfurt, Germany

  • Guest Lecturer in Finance, CERGE-EI, Prague, Czech Republic

  • Guest Lecturer in Finance, University of Osnabrück, Germany

  • Senior Research Fellow, The Wharton School, University of Pennsylvania

  • Post-doctoral Scholar, Free University of Berlin and Humboldt University of Berlin, Germany

  • Visiting Scholar, The Wharton School, University of Pennsylvania

  • Assistant Professor of Financial Services, University of Vienna, Austria