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EC News (3 December 2020)

December 03, 2020

Round-up of the weekly news and developments from the global (re)insurance market with stories from Catalina Holdings, Liberty Specialty Markets, Berkshire Hathaway Specialty Insurance and more.

Catalina Holdings adds trio of Non-executive directors

Catalina Holdings has announced the appointments of Tony Cunningham and Chris Harris as independent non-executive directors and Fiona Walden as RenaissanceRe’s appointed non-executive director.

The appointments follow the resignations from the board by Aditya Dutt and Jacques Bonneau.

Cunningham brings significant experience as a senior business advisor and is a former partner at Lane Clark & Peacock. His previous experience includes working with corporates and the boards of FTSE 100 companies across international markets and jurisdictions. He was previously a non-executive director at Liberty Holdings.

Harris is an actuary and experienced senior executive and board member with 25 years of experience in the insurance industry. He previously served as CEO of Montpelier Re Holdings Ltd. His current board and advisory positions include James River Group, Hudson Structured Capital Management and BF&M Group.

Walden brings over 15 years of structured finance and credit underwriting experience. She currently serves as senior vice president (SVP) and global head of credit at RenRe.  Previously, she was co-head of the strategic capital products team at Liberty Specialty Markets and has worked at Willis as deputy head of structured finance.

Chris Fagan, chief executive of Catalina, said: “We have significantly strengthened our board over the last 18 months. Tony, Chris and Fiona will further add to this and bring valuable experience to our board discussions.

I would like to thank Aditya and Jacques for their important contributions to the board during a time of significant growth for Catalina and wish them all the best in their new endeavours.”

LSM promotes Shazia Aslam Rafique to newly created downstream energy role

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the promotion of Shazia Aslam Rafique to the newly created role of Regional Product Line Manager – Downstream Energy for London, Europe and Dubai, effective immediately.

In her new role, she is based in LSM MENA’s Dubai office and is responsible for the profitability and oversight of the combined downstream energy portfolio. She reports to Michael Gosselin, chief underwriting officer, specialty in her London and Europe role and Elie Bouchaaya, president, LSM MENA in her Dubai role.

Prior to her promotion, she served as vice president, underwriting specialist onshore energy. She has over 21 years’ experience in the industry having joined Liberty in 2003.

Michael Gosselin, chief underwriting officer, Specialty at LS, said: “I am delighted that we were able to promote talent from within the company to this newly created role. It was designed to provide brokers and clients with a consistent approach to products and service across London, Europe and Dubai. Shazia has been instrumental in building our downstream energy portfolio in the MENA region. Her extensive experience in the energy market is an asset to the business.”

Tom Macfarlane appointed to lead BHSI’s European downstream energy business

Berkshire Hathaway Specialty Insurance (BHSI) has named Tom Macfarlane to lead the expansion of its capabilities in Europe to underwrite Downstream Energy Property Insurance.

Macfarlane brings over four decades of insurance experience spanning both the underwriting and broking side of the business.

He has held a variety of leadership roles in Energy Property at AIG, including global head of energy.

Macfarlane was also previously energy broker and managing director at Marsh & McLennan Companies.

Chris Colahan, head of UK and Europe, BHSI said: “We are delighted that Tom is joining BHSI to develop our Downstream Energy business in Europe. He is a well-respected leader in the market and has a wealth of experience in the energy sector.”

Sean Mannion, UK head of property, BHSI commented: “This is a significant step in continued build-out of our overall Property business. With Tom and his extensive expertise and knowledge at the helm, we look forward to building strong relationships with our customers and brokers in the energy sector.”

Lockton Re appoints Steve Tritton as senior broker to its Marine & Energy division

Global reinsurer, Lockton Re has announced the appointment of Steve Tritton who is set to join the business in 2021 as a senior broker, based in the London office as part of its Marine and Energy division.

Tritton joins from Guy Carpenter, where he most recently served as managing director. Prior to that, he held senior positions at JLT Re, Guy Carpenter, Marsh, Sedgwick Reinsurance Brokers and EW Payne, starting his career as a marine broker at Alwen Hough Johnson.
 
Keith Harrison, international CEO, Lockton Re, commented: “We have experienced strong momentum in our Marine & Energy Division as a result of the strength and depth of our team and the differentiated value we can deliver to our clients. Steve’s experience in the London Market and Internationally will further add to that momentum.”

Martin Stephenson, chairman of the Marine & Energy division, Lockton Re, added: “Steve has over 30 years of industry experience and deep relationships with Markets and clients alike which means he is both well connected and respected in the Marine & Energy specialty. Steve’s excellent reputation is a great asset in a more challenging market.”

Jerry Ridge, head of the marine & energy division said: “We look forward to welcoming Steve to the London office next year. He’s a great fit for both our collaborative culture and ambitious drive. I know Steve’s strong relationship skills will resonate with colleagues, clients and markets alike.”

Arch Insurance hires Jason Page as senior underwriter for Hull & War

Arch Insurance International strengthens hull and war coverage by appointing Jason Page as senior underwriter, effective immediately.

In his new role, he will be responsible for underwriting activities across the portfolio, focusing on opportunities to expand the company’s market standing and further develop its product and service capabilities.

Based in London, he joins the Marine Hull, War & Cargo division led by Mark Watters, and will report to Jake Gibbs, head of Marine & Energy.

Page joins the firm with over three decades of experience from Markel, having most recently served as head of Hull & War.

Gibbs commented: “In recent years, Arch has achieved strong growth across our marine portfolio. Hull & War is a complex line of business that demands a technical, data-driven, underwriting approach. Jason brings vast sector experience and industry knowledge, and is a great addition to the team.”

Page added: “Arch has become a considerable force in the marine sector and I am delighted to be joining the company. I am looking forward to helping continue our growth momentum and further enhancing the service and solutions that we provide to our brokers and their clients.”

AGCS announces two senior leadership appointments

Allianz Global Corporate & Specialty (AGCS) has announced the appointments of Karina Suarez as chief actuary and Christian Kortebein as chief pricing actuary.

Suarez Rodriguez took up her new position earlier this month, reporting to Claire-Marie Coste-Lepoutre, AGCS chief financial officer.

She succeeds Christian Kortebein, who was appointed chief pricing Actuary in July, but retained the short-term responsibility for the actuarial team until Suarez had joined.

Suarez Rodriguez brings more than two decades of experience and joins the business from AIG where she held several leadership roles, including head of reserving for Global Specialty, the head of reserving for Property and Specialty for the UK and Europe, and the chief finance actuary overseeing 14 countries in the LATAM and Caribbean regions.

Prior to joining AIG, she was with La Caja Seguros/Generali in Argentina.

In Kortebein’s new role, he will be responsible for technical pricing across all AGCS lines of businesses, working closely with the Corporate Actuarial, Underwriting and Claims departments as well as Portfolio Management and Risk Management. He reports to Tony Buckle, chief underwriting officer corporate.

He joined Allianz in 2003, acting as deputy group chief actuary before later joining Fireman’s Fund Insurance Company and Allianz France as chief actuary. He has been with AGCS since 2017 as chief actuary.

Claire-Marie Coste-Lepoutre, AGCS CFO commented: “We are very happy to announce the arrival of Karina at AGCS and thank Christian very much for taking dual roles during the interim period. With her deep and truly global knowledge of the actuarial side of insurance, Karina will be a great fit for our Finance team. With our drive towards technical excellence, both Karina and Christian will be key contributors supported by their teams in our transformation journey.”