Horseshoe, the Bermuda-headquartered insurance or reinsurance management, fund administration, insurance-linked securities (ILS) specialist and Artex company, has appointed well-known industry executive Kathleen Faries as its new CEO.
Andre Perez, the founder and current CEO of Horseshoe will take on the new role of Executive Chairman, remaining involved in the business as a key strategic advisor.
Perez developed the Horseshoe business into the market leader for ILS service provision across a range of activities, including having one of the most prolific transformation reinsurers in Horseshoe Re, then adding ILS and reinsurance specific fund administration and servicing, before leading the company into a strategic acquisition by AJG’s Artex Risk Solutions.
Faries, who is based in Bermuda, will take on the CEO role from April 15th 2021 and will work closely with Perez through a short transition period, after which Perez will step into his new Executive Chairman role where he will focus on strategic business opportunities and mergers & acquisitions.
Faries is a very well-known figure in the Bermuda reinsurance and global insurance-linked securities (ILS) community, with over 30 years of experience in the market, across property and casualty broking, captives, underwriting and insurance management.
Most recently, Faries was the Head of Tokio Millennium Re AG (TMR), Bermuda, the reinsurance division of Tokio Marine.
In her time with that company, Faries also served as Chief Executive Officer of Tokio Solution Management Ltd., developing a key insurance-linked securities (ILS) focused operation that saw Tokio Millennium Re acting as one of the market’s largest transformer and fronting service providers to ILS funds and investors, among other offerings.
Before joining the company, Faries held roles in broking in the Bermuda market, with Marsh and Crump International.
Faries is also a a founding Director and the current Chair of WeSpeak Bermuda, a non-profit focused on building female public speaking skills and confidence. She is also serves on the Board of the Bermuda Insurance Institute (BII) and is a member and Chair of ILS Bermuda Ltd., host of the annual ILS Bermuda Convergence event.
Faries commented on joining Horseshoe, “I believe the ILS industry has the ability, now more than ever, to make a significant impact on our society’s growing and expanding risk landscape. I am thrilled to be joining the leading global ILS service provider at such an exciting time in the industry. Having worked alongside Andre in the ILS industry for many years, it is a privilege to be in a position to take the baton from him and lead such a high- performing and dynamic organization into the future.”
Perez added, “I am delighted to have Kathleen join Horseshoe and lead our global team of talented and dedicated ILS professionals. Her tremendous depth and breadth of industry experience, along with her authentic leadership style, will be critical strengths as we continuously strive to add value to our clients and help them succeed in this ever-changing environment. Horseshoe is well positioned to realize the next stage of growth and I am confident Kathleen will contribute significantly to it.”
“Positioning the company for the future, and ensuring a robust succession plan, is a core objective at Artex,” Artex CEO Peter Mullen also said. “Andre has done a great job combining the Horseshoe and Artex ILS businesses and I’m excited about this next phase in our evolution as Kathleen transitions into the CEO role and takes us to the next level.”