HSB Canada Appoints Barbara Bellissimo as New President and CEO

TORONTO--(BUSINESS WIRE)--HSB Canada today announced the appointment of Barbara Bellissimo as president and chief executive officer, effective April 1, 2024. She replaces John Mulvihill, who has retired after a successful 34-year career with the Toronto-based specialty insurer.

“I have had the pleasure of working with Barbara during her tenure as board member and chair. In addition to her wealth of industry experience, she brings a strong commitment to achieving our growth ambition, and a passion for talent development and inclusivity”

Under Mulvihill’s leadership, HSB Canada doubled its revenue, introduced a host of new specialty products, and initiated a significant transformation program.

Ms. Bellissimo began her insurance career in 1986 and is a Fellow Chartered Insurance Professional (FCIP). She was former Canadian head for the largest insurance company in North America and one of the top P&C insurers in Canada. She recently served as chair on HSB Canada’s board of directors.

“I have had the pleasure of working with Barbara during her tenure as board member and chair. In addition to her wealth of industry experience, she brings a strong commitment to achieving our growth ambition, and a passion for talent development and inclusivity,” said Peter Richter, board member of HSB Canada and divisional head, HSB Group.

HSB Canada

HSB Canada, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB Canada’s insurance offerings include equipment breakdown, cyber risk and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.ca and connect on LinkedIn, Twitter and Facebook.

Munich Re

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to Hurricane Ian in 2022. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.