Insurance Investor - news round-up 10/3/23
All the people move news in the investment space for insurers featuring Aon, Enstar Group, Greenlight Re, Sompo International, and Connect Underwriting.
Insurance Investor Editorposted on Friday, March 10, 2023
Comings and goings
Aon has appointed Cathy Lewis as a Partner in its UK investment team.
Lewis joined the company from Kempen Capital Management UK, where she headed its client team and also worked on its fiduciary business. She has previously held roles as client director at LGIM, and was an investment banker at Credit Suisse, JP Morgan, and ING Bank.
In the new role, she will form a part of the business development team and will work with Aon investment consultants, portfolio managers, and portfolio specialist teams.
“Cathy brings impressive experience from across the investment sector, especially in the field of fiduciary management more recently. I am sure that with our delegated team she will play a major role in continuing to bring the best of Aon to our current and future clients,” said Tim Giles, senior partner and EMEA managing director for Aon Investments.
Specialist reinsurance managing general agent, Connect Underwriting, has appointed Ahsan Abdul Majid to its newly launched holding company ConnectUW Holdings LTD as Chief Commercial Officer (CCO) of the company. The company has been established as an umbrella company for the group’s expanding insurance entities in the London Market.
As CCO of ConnectUW Holdings, Majid will work alongside the group’s Chairman and CEO, Jamil Elbahou, to capitalise on commercial and investment opportunities, as well as having a broad business development role for the group in international markets.
ConnectUW Holdings has been set up to manage the group’s investment strategy, including capital raising and leveraging strategic opportunities and initiatives that support the group’s expansion.
Majid previously worked for Gallagher where he was Executive Vice President, a role with a reinsurance and international business focus.
Nicolas Burnet has been appointed as Chief Financial Officer (CFO) at Bermuda-headquartered Sompo International, and also as a member of the company’s executive team, effective 7 March.
Burnet will report to James Shea, CEO of Sompo International, and will be based in Boston. He takes over from Michael McGuire, who stepped down as CFO after 20 years with Sompo International, formerly Endurance Specialty.
Burnet comes to Sompo International from Partner Re, where was CFO. Prior to that, he spent nearly 16 years with Zurich Insurance Group in various leadership positions, including Group Head of Planning and Performance Management, CFO for General Insurance and Global Life CFO. He began his career in financial services with various companies including Neuberger Berman, JP Morgan, and Price Waterhouse.
Enstar Group Limited announced several executive promotions following the retirement of President Paul O’Shea on 1 March after 28 years.
The new President will be Orla Gregory. Gregory has worked as Chief Financial Officer (CFO) since August 2021, and prior to that as Chief Operating Officer (COO) since 2016. She was appointed to the Board of Directors in February 2022 and has been with the Company for 20 years, with roles at EY and QBE prior to that. She is based in Bermuda.
Matthew Kirk has been named as CFO. New York-based Kirk joined Enstar in April 2020 as Group Treasurer, and has been responsible for treasury, capital management, and investor relations. He previously worked in executive roles at Sirius International Insurance Group, including Group Treasurer and President & Managing Director of Sirius Investment Advisors.
The COO appointment has gone to Paul Brockman, who will also continue in his role as Chief Claims Officer, which he has held since September 2020. He previously worked as Chief Executive Officer (CEO) of Enstar US from 2016 and as Enstar US President and Chief Operating Officer from 2014. He has been with the Company for over 10 years.
Greenlight Capital Re has made changes to its executive leadership team including Faramarz Romer, Greenlight’s Chief Accounting Officer and Treasurer, who will be appointed Chief Financial Officer (CFO), effective 1 April 2023.
Romer will succeed Neil Greenspan, who is leaving the Cayman Island-based company on 31 March 2023.
“Faramarz has been an integral member of Greenlight Re’s finance team since 2007 and is the right person to succeed Neil in the Chief Financial Officer role,” said Simon Burton, Chief Executive Officer of Greenlight Re. “He is a highly experienced and capable finance professional. I am confident that in this new role, Faramarz will continue to add to and strengthen our ability to deliver long term value for our clients, partners, and investors."
Since September 2020, Romer has been Chief Accounting Officer and Treasurer of the Company. From July 2007 to September 2020, Romer was Reporting and Compliance Officer and oversaw the Company’s Securities and Exchange Commission reporting, periodic and annual financial reporting, and internal audit and SOX 404 process.
Prior to joining the Company, Romer was a Senior Manager at KPMG.
Greenlight Re focuses on P&C re/insurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland, and its Lloyd’s platform, Greenlight Innovation Syndicate 3456.