Hamilton, Bermuda – Catalina Holdings (Bermuda) Ltd (“Catalina”), an industry leader in the insurance legacy space, is pleased to announce the appointment of Derrick Irby to the position of Group Chief Financial Officer. Derrick will be based in Bermuda and starts his new position on 1st May.
Derrick has 22 years of experience advising and leading the finance activities of insurance and reinsurance companies, including managing finance operations, structuring (re)insurance and capital markets transactions, strategic investments, mergers and acquisitions and related integration activities.
His most recent role was Head of Finance, P&C Insurance & Reinsurance at AXA XL. Prior to this, he held progressively more senior financial and leadership roles in the reinsurance division of XL and its acquired companies.
Derrick will oversee Catalina’s Group finance function, helping to develop the business across its multiple geographies, and use his experience to help prepare the business for its next phase of growth and strategic development.
Derrick is replacing Chris Fleming who has been with Catalina since its first acquisition of OPRe in 2005.
Commenting on the appointment Chris Fagan, Chief Executive of Catalina Holdings said: “I am delighted that Derrick has chosen to join Catalina. He has extensive experience as a senior finance professional in insurance and reinsurance, including in the public markets, and will play an important role as we prepare Catalina for its next phase of development.
“I would like to express my thanks to Chris Fleming who has been with Catalina since our acquisition of OpRe. He has made a significant contribution to Catalina’s development and has been an important member of the senior team.”
Derrick Irby comments: “I am pleased to join Catalina at this exciting time for the business. I look forward to working with Chris, the management team and the board of directors helping to execute the business’ strategy by capitalising on the significant opportunities present in the legacy space.”
About Catalina Holdings (Bermuda) Ltd
Catalina Holdings (Bermuda) Ltd (“Catalina”) is a long-term consolidator in the non-life insurance/reinsurance run-off sector. Catalina was established in 2005 to focus solely on the acquisition and management of non-life insurance/reinsurance companies in run-off. Since its foundation, Catalina
has acquired or reinsured $9bn of non-life insurance and reinsurance liabilities. Catalina has received approvals from Bermudian, Irish, Malaysian, Singaporean, Swiss, UK (PRA and FCA) and various US state insurance regulators for prior acquisitions and reinsurance transactions. Catalina operates from 11 global offices situated across the United States, Bermuda, Ireland, United Kingdom and Switzerland.
For further details about Catalina’s acquisitions or its management team please refer to www.catalinare.com.