Catalina CEO retires after transition from legacy to life

Bermuda-based Catalina Holdings has announced the retirement of chief executive officer Ian Parker, who steered the company from being a property and casualty legacy re/insurer to life re/insurance. 

Parker, who had been CEO since 2022, is succeeded by Philipp Waldstein, who was previously the chief investment officer. 

The company said: “Catalina would like to thank Ian Parker for his contributions to the company. During his tenure, Ian successfully led the change in strategic direction from non-life to life insurance. We wish him all the best in his retirement.”

Parker, previously CEO of ERS, said of the transition of Catalina on his LinkedIn profile that he proposed and executed a significant strategic pivot away from P&C legacy business to life reinsurance. He said this was a major turnaround with the creation of Life RI capabilities from scratch and disposing of P&C books and businesses. 

Waldstein joined Catalina in 2020 and has been Group CIO and a member of the executive management team since. 

“He has been instrumental in driving Catalina’s strategic pivot into annuity reinsurance through the partnership with Athene and has successfully transformed the investment division,” the company said. 

"I am honoured to be taking on this new role and look forward to working with the talented team at Catalina to continue driving the company's growth and success," said Waldstein. 

Manfred Puffer, chairman of Catalina’s board of directors, commented: “Given his extensive experience and proven success at Catalina, Philipp is best placed to support the value creation for Catalina's stakeholders. On behalf of Catalina's Board of Directors, I am delighted to support Philipp's appointment as Group CEO.”

With more than over 35 years of experience in the insurance asset management and banking industry, Waldstein was previously CIO and later CEO of MEAG, the international asset manager for Munich Re Group.

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