Another high-profile name from the insurance and reinsurance industry has joined Hamilton Insurance Group, the holding company for recently established Bermudian reinsurer Hamilton Re, which was formed after it acquired hedge fund backed SAC Re.
Conan Ward has joined Hamilton Re and Hamilton Insurance Group to head up its U.S. operations, as expected. Most recently Ward was Chief Executive Officer at Validus Reinsurance Ltd. before which he held the position of Chief Underwriting Officer of Validus Re from its founding until 2009, building and managing a US$1 billion property and specialty reinsurance business. Before Validus he was an Executive Vice President of Axis Specialty Ltd. from its formation in 2001 until 2005.
“I am delighted to welcome Conan to Hamilton Insurance Group,” said President and CEO Brian Duperreault. “His depth of experience, as well as his enthusiasm for the business that we’re doing, make him a natural fit. I’m looking forward to working with him as he develops our insurance operations in the US.”
“This is an exciting opportunity to create something new in the insurance and reinsurance industry,” commented Mr. Ward. “Hamilton Insurance Group’s combination of visionary management, global experience and big data capabilities is unique in the sector. I’m looking forward to building a cutting edge team who knows how to marry the products we’ll be selling with the risks of the future.”
Ward has been in insurance and reinsurance since the early 1990’s and brings a huge amount of experience and contacts to Hamilton Insurance Group.
Since buying the Steven A. Cohen and SAC Capital hedge fund owned SAC Re, changing its name to Hamilton Re and bringing on new partners such as data driven investment management firm Two Sigma, Duperreault now finds himself running one of the most interesting new prospects in the reinsurance market.
It will be particularly interesting to see what returns it can deliver to its investors, with its leadership and underwriting team increasing in strength and Two Sigma managing its assets, it could become a very attractive proposition.
Hamilton Re is going to be an interesting story to watch develop.