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Lou Iglesias has been named CEO of Allied World Assurance Co. Holdings Ltd., replacing Scott Carmilani, who is joining Fairfax Insurance Group in a new role, Fairfax Financial Holdings Ltd. said Wednesday.
Mr. Iglesias was formerly president of Pembroke, Bermuda-based Allied World, according to the statement.
Fairfax said in his new role Mr. Carmilani will promote organic growth and “collaboration initiatives” across Fairfax’s insurance and reinsurance operations worldwide.
It said he will work closely with Andy Barnard, Fairfax Insurance Group president, and Paul Rivett, president of Fairfax Financial.
The statement did not report Mr. Carmilani’s new title, and a spokesman could not immediately be reached for comment.
Toronto-based Fairfax said Mr. Iglesias had worked under Mr. Carmilani, who had chosen him as his successor, for more than seven years.
Fairfax Financial completed its $4.9 billion acquisition of Allied World in 2017.
Fairfax Financial Holdings Ltd.’s bid to acquire New York-based Allied World Assurance Co. Holdings A.G. will benefit both companies, analysts said Monday, while opening the door for competing bids.