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Kathleen Reardon, CEO of Hamilton Re Ltd., the Bermuda-based reinsurance arm of Hamilton Insurance Group Ltd., and a founding member of the company, is leaving the firm.
In a statement Monday, Hamilton Insurance Group Ltd. said David Brown has been named interim CEO and will oversee Hamilton’s Bermuda operations until a successor is announced.
Mr. Brown has been chairman of Hamilton Re since 2015 and held the position of interim CEO of Hamilton Insurance Group until Group CEO Pina Albo joined the company in 2018.
The latest executive departure at Hamilton follows its acquisition of Liberty Mutual Group’s Pembroke managing agency at Lloyd’s and its Ironshore Europe DAC business last year.
It comes as Hamilton accelerates plans “in current favorable market conditions, to take advantage of our expanded platform, products and our global teams to achieve our goals,” Ms. Albo said in the statement.
A longtime reinsurance executive, Mr. Brown served as founding CEO of Flagstone Reinsurance Holdings Ltd. from 2005 to 2012 and prior to that as CEO of Centre Solutions.
Transition in management responsibilities will be “seamless,” Hamilton said.
Bermuda-based Hamilton Re Ltd. has appointed Minesh Shah to the newly-created position of senior vice president, actuary, The Royal Gazette reports. Mr. Shah will report to chief risk officer Pete Skerlj. Richard Sammons has been promoted to head of specialty, with executive responsibility for the reinsurer's specialty book of business.