Résumé
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
Consulting basis from 16 November 2026.
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 organization 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
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 Berlin and Humboldt University of Berlin, Germany
Visiting Scholar, The Wharton School, University of Pennsylvania
Assistant Professor of Financial Services, University of Vienna, Austria