The International Insurance Society announced last week that Donald Kramer, chair and chief executive officer of ILS Capital Management will be the group’s 2016 Insurance Hall of Fame laureate.

The Insurance Hall of Fame award honors insurance leaders who have made a broad, encompassing and lasting contribution to the insurance industry, and who are recognized by their peers as successful leaders, innovators and visionaries. A slate of nominees for the 2016 Insurance Hall of Fame was selected by the IIS Honors Committee, a body of senior insurance executives and academics, and voted on by IIS members by secret ballot, tabulated and conducted by the independent accounting firm Deloitte & Touche LLP.

Supporting the selection, Bernhard Fink, IIS Honors Committee chair said: “Don’s decades-long career in the insurance industry is a testament to his remarkable entrepreneurial spirit and keen business acuity.”

“He built several highly successful companies from the ground up, including NAC Re, Ace Tempest Re and Ariel Re, an accomplishment that would be truly unique in any industry.”

Michael Morrissey, IIS president and CEO, called Kramer “a trailblazer,” noting that the description is not only fitting for Kramer’s work in starting up insurance companies but also in his efforts in changing “how the investment community values and provides capital to the industry.”

Kramer’s career in the industry spans more than 54 years. He has been a leading innovator in several fields, including: investment banking research and rehabilitating and/or liquidating troubled insurance companies, and establishing new companies from the ground up, IIS said in a statement.

Currently he is the chairman and principal owner of ILS Capital LLC and ILS Capital Limited, which specializes in creating and managing investments in insurance-Linked securities. Outside of the industry, Kramer is also known for his contributions in the non-profit sector and the arts.

He will be inducted into the Insurance Hall of Fame at the June 13th awards gala dinner in conjunction with the Global Insurance Forum at the Shangri-La Hotel in Singapore, June 12th–15th.

About IIS and the Hall of Fame

The Insurance Hall of Fame, administered by the International Insurance Society, was created in 1957 and today boasts over 100 Laureates from around the globe.

The IIS mission is one of international collaboration—bringing together key decision makers from the insurance industry to combine their knowledge of regulatory issues, finance, and governance, and utilizing world class research as a force to drive global industry growth and innovation.

The IIS vision is to shape the future of the global insurance industry as a key contributor to the open dialogue on the economic and social development of markets.

The IIS provides a forum for all stakeholders of the insurance community to engage in active collaboration, with members representing insurance leaders, international regulatory authorities, and worldwide insurance scholars from over 90 countries. The IIS’s signature annual event, the Global Insurance Forum, is considered the premier industry conference.

Source: International Insurance Society