Blue Capital Management, the insurance-linked securities (ILS) and collateralized reinsurance investment manager which is now part of Endurance Specialty Holdings Ltd. since its takeover of Montpelier Re, has had a change of CEO following a resignation.
Bill Pollett was CEO of Blue Capital Management Ltd. and also Treasurer and Corporate Development and Strategy officer of Montpelier Re. He resigned from all of his roles at the reinsurance firm and ILS manager on the 12th August.
Replacing him is Adam Szakmary, who has been promoted to the role of Chief Executive Officer and Portfolio Manager of Blue Capital Management Ltd.
Szakmary has been with Blue Capital since the investment managers launch in November 2012, leading the ILS managers portfolio management and underwriting.
Before his move to Blue Capital, Szakmary was both an underwriter of the U.S. Property Treaty Portfolio and a Vice President of Risk Management at Montpelier Re. He also assisted in the launch of the Lloyd’s of London operations at the reinsurer, where he was the international property class underwriter, before which he underwrote the terrorism portfolio at Montpelier Re.
Pollett helped to build the Blue Capital platform into a compelling ILS and reinsurance-linked investments platform, with the London and Bermuda listed Blue Capital Global Reinsurance Fund, the New York listed Blue Capital Re, its open-ended Blue Capital Mid Vol Fund, as well as offering private mandates and sidecar solutions to its clients.
Szakmary has been a key part of the build-out of the Blue Capital platform, responsible for building and managing its portfolios of reinsurance risks. His appointment as CEO will be positive for continuity and it will be interesting to see how Blue Capital embraces being part of the Endurance group.