Catalina Holdings (Bermuda) Ltd, which specialises in the acquisition and management of non-life (re)insurance companies in run-off, has installed a new person at the helm.
Succeeding Bruce Hemphill to serve as Catalina’s group chief executive is Ian Parker, who was CEO for seven years at Lloyd’s underwriting business ERS. The industry veteran’s more than 25 years of experience includes time spent at Hardy Underwriting, Zurich, RBS, and Direct Line Group.
“I am very excited to join Catalina at this inflection point and see tremendous opportunities ahead for the business,” commented the new boss. “With its renewed strategic focus, improved operations, and financial support of its owners, Apollo and RenaissanceRe, Catalina is well set to further consolidate its leadership position in the run-off market and to go from strength to strength.
“I am looking forward to working with the very experienced team Bruce has assembled, the board, Apollo, and RenaissanceRe to deliver future run-off transactions and drive positive outcomes for all stakeholders.”
Hemphill, meanwhile, will now return to his non-executive chair post after taking over as interim chief executive from February 2021. During the period, he led a strategic review of Catalina and oversaw the implementation of the company’s new operating model.
“I am delighted to welcome Ian to Catalina,” noted Hemphill. “The business has made significant progress over the past year. We have clarified the company’s strategy and made operational changes which are delivering improved business results. Catalina is now well positioned as a large, mature, and robustly managed leader in the run-off sector.
“Ian’s broad P&C (property and casualty) experience, industry connectivity, and track record of running insurance businesses while creating significant value for private equity owners make him the right person to lead Catalina today. The board and I look forward to working with him and the executive team to deliver new transactions and drive growth in 2022 and beyond.”
