CATCo Investment Management, the Bermuda-domiciled reinsurance and retrocessional reinsurance linked investment manager, has hired ex-Aspen reinsurance executive Ly Lam as the firm’s new Chief Operating Officer.
CATCo, which runs a number of reinsurance and retrocessional linked investment funds and strategies, has appointed Ly Lam as COO with effect from 2nd March 2015. Lam has over 20 years of experience in the insurance and reinsurance industries and will be located in Bermuda for the investment manager.
As COO, Lam will have responsibility for day-to-day operations of the company and will report directly to CEO Tony Belisle.
Belisle commented on the appointment; “CATCo has grown significantly since it was formed over five years ago. At this point in the Company’s maturity, CATCo was seeking a Chief Operating Officer with significant reinsurance experience, not only in financial management, but also in reinsurance product development.
“Ly has the requisite experience and an excellent reputation within the reinsurance market, and I am delighted she has agreed to join CATCo. Working alongside the existing team, Ly will play a key role in assisting with the next stage of CATCo’s development.”
Prior to joining CATCo, Lam spent the ten years with Aspen Insurance Holdings Limited, most recently holding the position of Chief Financial Officer of the reinsurance segments for more than four years, where she had responsibility for all aspects of financial management and reporting.
Prior to her 10 years at Aspen, Lam spent more than nine years at PwC. Lam is a Chartered Accountant.
Ly Lam added; ‘CATCo has a strong track record for delivering shareholder returns and at the same time, has generated a market share of approximately 20 percent of the retrocessional market. This is an exciting time to be joining the Company, and I look forward to contributing to CATCo’s further success.”
Lam replaces Jason Bibb who left CATCo in December following a decision to relocate back to the UK from Bermuda.