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Member, Beacon International Group, Ltd.
HAMILTON, BermudaQuanta Capital Holdings Ltd. has named Peter D. Johnson as its president and chief executive officer.Mr. Johnson, who previously led the runoff of The Home Insurance Co., replaces interim CEO Robert Lippincott.
Mr. Lippincott, who took over from Tobey J. Russ last November, will continue as deputy chairman and a member of Quanta's board, according to a company statement.
Hamilton, Bermuda-based Quanta in May placed most of its business in runoff following a ratings downgrade out of the A range due to the 2005 hurricanes.
"Peter is a specialist in discontinued insurance operations and claims management and has an established track record in this area....We welcome him to the helm, and look forward to working together to achieve the best outcome possible for all of our stakeholders," James J. Ritchie, Quanta's executive chairman, said in the statement.