Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that, subject to regulatory approval, Christopher Donelan, currently the deputy CEO of Sompo International (SI) Reinsurance will assume the position of chief executive officer of SI Reinsurance.
Stephen Young, the current CEO of Reinsurance at SI has resigned from the company to pursue other interests.
Donelan will report to Christopher Gallagher CEO of SI’s Commercial P&C business. In addition to his role as CEO, Donelan will be joining the SI Commercial P&C Executive Team.
Prior to joining Sompo International in 2013, Donelan held senior reinsurance leadership roles at leading property and casualty carriers and has over 30 years of industry experience. Donelan holds an MBA in Insurance and Risk Management from St. John’s University and holds both the Chartered Property Casualty Underwriter and Associate in Reinsurance designations. Donelan holds an MBA from St. John’s University and holds both the Chartered Property Casualty Underwriter and Associate in Reinsurance designations
The reinsurance business of SI represents approximately $2.4 billion of annual gross written premiums with locations in the United States, Bermuda, the United Kingdom, Switzerland and Singapore.
“I am extremely pleased that Chris has assumed the role of CEO of SI’s Reinsurance business. His extensive industry experience, strong relationships with our major clients, distribution partners and employees, historical knowledge of our company combined with a proven track record of building profitable and meaningful reinsurance portfolios qualifies him as the ideal executive to lead our Reinsurance business,” said Gallagher in a statement.
Gallagher thanked Stephen Young for his contributions to SI over his 17-year tenure with the company and wished “him the very best in his future endeavors.”
“I’m honored to accept the role of CEO of SI’s Reinsurance business having been a part of this team for over six years,” commented Donelan. “Emerging from all the current market turmoil, I am convinced we have the opportunity to substantially increase the profile of our reinsurance platform to become an even more relevant and strategic, global partner for our cedents and broker partners.”
Source: Sompo International
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