ACR hires former XL Catlin exec Heerasing as deputy CEO

Former XL Catlin executive Bobby Heerasing has been appointed as deputy group chief executive and deputy chief executive of ACR Capital Holdings’ subsidiary Asia Capital Re (ACR).

Heerasing is a re/insurance veteran, who has spent much of his career at first Catlin and then XL Catlin. He previously worked in London and Houston, but since 2002, has been largely based in Singapore where he took on various management and underwriting roles for Asia Pacific.

Before to the XL - Catlin merger, Heerasing was the chief underwriting officer of Catlin Asia Pacific, where he was responsible for its insurance and reinsurance divisions. Following the Catlin-XL merger, he was appointed regional underwriting director, Asia Pacific (Insurance). In 2016, he took on the additional role of distribution director.

“I was based in Asia during ACR’s formative years in the industry and have observed its evolution with keen interest and respect,” said Heerasing. “I have been most impressed by the group’s resilience and ability to build strong, sustainable client relationships during what has turned out to be a challenging period for the industry. As ACR enters its 11th year of existence, it is a young reinsurer by industry standards but one with a reputation for consistently delivering great service and a wide suite of products to our clients and brokers.

"I am excited about the opportunity to lead ACR and look forward to working closely with its new owners and talented staff to build on these strong foundations of service and relevance to the reinsurance community as we collectively look to further grow the company."

ACR said that Heerasing’s appointments come at a time when the Singapore-headquartered reinsurance group is being 100 percent acquired by Shenzhen state-owned investment corporations, Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings.