Hamilton, Bermuda – Catalina Holdings (Bermuda) Ltd (“Catalina”), an industry leader in the insurance legacy retrospective space is pleased to announce the appointment of Loh Wei-Lyn as CEO of Asia and Luann Petrellis as CEO of the U.S.
Wei-Lyn assumed the CEO role of Asia on 16 May 2022 from Martin Kauer upon his retirement. Wei-Lyn was the Chief Corporate Officer prior to her last held role as Chief Operating Officer under Catalina for Asia. She was responsible for enhancing the internal organization processes and infrastructure in the day-to-day operations while supporting the company’s strategy and objectives. Wei-Lyn has over 20 years of headquarters and regional management experience across public and private sectors and will work with Malcolm Steingold to seek new opportunities in the Asian market.
Luann Petrellis joins Catalina on 11 July 2022 taking over the role from Amy Gallent who will be retiring later in the year. Luann’s most recent experience was as an Independent Industry advisor and consultant, with a particular focus on insurance restructuring legislation in the US market. Prior roles involved working with leading insurance companies managing their legacy liabilities and she has been involved in transactions for all lines of business to significantly achieve operational efficiencies, make more efficient use of capital and give economic finality to cedents. Prior to this, Luann held the role of Managing Director, Philadelphia, at PricewaterhouseCoopers.
Wei-Lyn commented: “Asia is a key growth region for Catalina, and I am privileged to be able lead an experienced and competent team in Singapore with Malcolm to chart the path for Catalina Asia as a leading retrospective transactions provider for Asia, Middle East and Australasia.”
Luann Petrellis commented: “I am excited to be joining Catalina and already feel part of the team. Catalina has an exciting future, and I am thrilled to be a part of the Group. My recent experience in the changing face of regulation and legislation in the US will bring new opportunities for Catalina, ones that I hope we can work with cedent partners on together.”
Ian Parker, Catalina’s Group Chief Executive Officer, commented: “We are thrilled to announce the internal promotion of Wei-Lyn as the CEO of Asia. Her drive and knowledge of the company will be invaluable. Amy has been a fantastic leader of our U.S. companies and we wish her all the best for the future. Bringing someone of Luann’s reputation, knowledge and expertise into Catalina was not one to be missed and we are excited to have her on board. The fact we can attract someone like Luann demonstrates the exciting future ahead. Together they will work with the rest of the Executive Team to execute the strategy agreed by the board and shareholders Apollo and RenaissanceRe. The team at Catalina is a very strong one, and I am proud to lead them.”
Catalina Holdings (Bermuda) Ltd provides capital and risk management solutions to insurers and reinsurers in the global P&C insurance sector. Catalina has made 31 acquisitions and/or Loss Portfolio Transfers to date with total reserves more than $10bn.
Catalina, an industry leader in the insurance retrospective space reported consolidated net income of $177m for the year ended December 31, 2021, and net operating income of $86m. Total shareholders’ equity as at December 31, 2021 was $1.4 billion, total assets of $6.66bn and total liabilities of $5.23bn.
Catalina is a leading global provider and capital management and risk transfer solutions to the global P&C insurance sector. We seek to acquire non-life (re)insurance liabilities or provide risk transfer solutions for blocks of business where our clients wish to improve their return on equity and or improve their capital position and profitability profile. We also acquire or reinsure blocks or business for which clients are seeking to exit, de risk or release the capital intense allocation from their business model.