Staff poached from Swiss Re for new credit and surety writer
Bermuda-based Ariel Re has opened a branch office in Zurich to write credit and surety reinsurance globally from the 2010 renewal season. The office is in Zurich’s main insurance district. Staff have been poached from Swiss Re. The top three are:
- Thomas Rothenberger, senior executive and branch manager
- Michael Hammer, head of underwriting
- Alban Fauchere, responsible for directing risk and analytics
Don Kramer, chairman and CEO of Ariel Holdings, said: “Adding this highly experienced Swiss team to our group extends our program of diversification and growth. The target lines of business are in a hardening specialty market that developed following a difficult period due to the global economic crisis.”
Rothenberger said: “Ariel Re’s strong capital position, sophistication and risk culture provide us with an excellent base for us to serve our global clientele. We are excited to bring new capacity to our markets and are pleased to be a part of such a high quality reinsurance operation.”
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