Flagstone Re names senior underwriters

Posted On: Jul. 9, 2007 12:00 AM CST

Dave Lenckus

HAMILTON, Bermuda--Flagstone Reinsurance Holdings Ltd. has appointed several industry executives to senior underwriting positions for noncatastrophe and specialty lines of business.

Three of the new executives, who will hold unspecified positions at Hamilton, Bermuda-based Flagstone Re or a subsidiary, previously had top underwriting positions with other companies. Another executive previously held an executive position with a financial services oversight authority in the Middle East.

Andreas Peter, who has joined Flagstone Re subsidiary Flagstone Reassurance Suisse S.A., previously was global head of aviation and space at Zurich, Switzerland-based Swiss Reinsurance Co.

Dominic Kirby previously was chief underwriting officer for global marine and energy at The Navigators Group Inc. of New York.

Rafael Saer had been a senior vp and branch manager, Latin America and Spanish Caribbean operations, for New York-based Folksamerica Reinsurance Co., a subsidiary of White Mountains Re Group Ltd.

Irshied Tayeb will be responsible for building Flagstone Re's presence in the Middle East and North America. Mr. Tayeb previously was director of insurance and reinsurance at the Dubai Financial Services Authority in Dubai, United Arab Emirates.

Flagstone Re reinsures property catastrophe, property and specialty risks, but one of its midterm objectives is to build its noncatastrophe book of business "toward 50% of the total," Flagstone Re Chairman Mark Byrne said in a statement. "The growth in noncat property business and specialty lines, which these new team members will accelerate, should help us achieve our financial goal of solid profitability with below-average volatility."