Hamilton, Bermuda – Catalina Holdings (Bermuda) Ltd (“Catalina”) is pleased to announce the appointment of Steve Ryland as Chief Executive of Catalina UK as the business continues to strengthen its global management team.
With over 30 years of insurance and reinsurance experience, Steve joins the business from Armour where he was a member of the Executive Management Committee and instrumental in the development of Armour’s business from inception. He brings with him a proven track record of business origination, and significant operational and management experience. Prior to joining Armour, he was an Executive Director with PRO Insurance Solutions Limited – Swiss Re’s former service entity.
In his new role Steve will oversee Catalina’s UK operations, helping drive all aspects of its strategy, including integration of Catalina’s substantial UK Employers Liability books of business, driving operational efficiencies, identifying and executing on market consolidation opportunities, and levering Catalina’s global platform.
Steve’s appointment follows a long period of sustained success for Catalina which recently completed the largest portfolio transfer of UK Employers’ Liability policies in a $2bn transfer to Catalina General in Bermuda from Zurich Insurance Plc. Since being founded in 2005, the business has now completed 28 transactions with total liabilities of $7.5bn.
Commenting Chris Fagan, Chief Executive, Catalina Holdings said: “We’re delighted to welcome Steve to the business. He is an industry heavyweight that we have long admired and he brings with him a wealth of experience that will be invaluable as we continue to execute on our strategy.
“He joins the business at a very exciting time, following the completion of our largest ever transaction in the UK and a successful fundraise that provides us with the financial firepower to execute on a wide range of market opportunities.”
Steve will start his new role in January next year, subject to regulatory approval.
About Catalina Holdings (Bermuda) Ltd
Catalina Holdings 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 over $4.5bn of non-life insurance and reinsurance liabilities. Catalina has received approvals from Bermudian, Irish, Swiss, UK (FSA/PRA and Lloyd’s) and various US state insurance regulators for prior acquisitions and reinsurance transactions. Catalina maintains offices in Bermuda, Denver, Dublin, Hartford, London, New York and Pfaffikon, Switzerland, with approximately 180 employees. For further details about Catalina’s acquisitions or its management team please refer to www.catalinare.com.