CATCo lures Aspen reinsurance CFO
Bermuda-based specialist insurance-linked securities manager CATCo has appointed Ly Lam as chief operating officer (COO).
She replaces Jason Bibb, the former chief financial officer (CFO) and COO, who resigned in December.
Lam will be based in Bermuda and report directly to Tony Belisle, chief executive officer.
Prior to joining CATCo, Lam was with Aspen Insurance for ten years. Most recently, she held the position of chief financial officer of the reinsurance segments for over four years, where she had responsibility for all aspects of financial management and reporting. Prior to Aspen, she spent over nine years at PriceWaterhouseCoopers.
Tony Belisle, chief executive officer of CATCo Investment Management, said: "CATCo has grown significantly since it was formed over five years ago. At this point in the Company's maturity, CATCo was seeking a chief operating officer with significant reinsurance experience, not only in financial management, but also in reinsurance product development.
"Ly has the requisite experience and an excellent reputation within the reinsurance market, and I am delighted she has agreed to join CATCo. Working alongside the existing team, Ly will play a key role in assisting with the next stage of CATCo's development."
Lam said: "CATCo has a strong track record for delivering shareholder returns and at the same time, has generated a market share of approximately 20 percent of the retrocessional market. This is an exciting time to be joining the company, and I look forward to contributing to CATCo's further success."
