Reinsurer Transatlantic Holdings names new chief operating officer

NEW YORK—Transatlantic Holdings Inc. has appointed Michael C. Sapnar as executive vp and chief operating officer, the reinsurer said Friday.

In a statement, the company said Mr. Sapnar oversees the reinsurer’s operations worldwide and reports to President and CEO Robert F. Orlich.

Previously, Mr. Sapnar was executive vp and chief underwriting officer of U.S. domestic operations.

Board member to retire

Also Friday, Transatlantic said that Thomas R. Tizzio, a member of the board of directors, will retire due to personal reasons effective May 26.

Mr. Tizzio retired from American International Group Inc. in 2006, where he was senior vice chairman of general insurance. He joined New York-based AIG in 1967 and served as president of the insurer from 1991 through 1997.