26 April 2019News

Acting Qatar Re CEO takes on permanent role, new CUO revealed

Bermuda-headquartered re/insurer Qatar Re has appointed acting CEO Michael van der Straaten as its permanent CEO, and Pantelis Koulovasilopoulos as chief underwriter officer - long tail and specialty classes.

Koulovasilopoulos has over 27 years of re/insurance experience, and most recently served as deputy CUO - long tail and specialty classes - at Qatar Re. Prior to that, he served as chief actuary at Chubb Tempest Re International

Straaten joined Qatar Re in 2016, and prior to being the acting CEO, he was CUO - long tail and specialty classes - and served on Qatar Re’s executive management committee.

Prior to Qatar Re, Straaten was deputy head of London and head of casualty at ACE Tempest Re. He started his career in Lloyd’s at a box manager and non-marine property treaty underwriter.

"We are pleased to announce that Qatar Re has decided to appoint Michael van der Straaten as CEO,” said Sunil Talwar, chairman of the board of directors of Qatar Re. “Mike has fitted seamlessly into the position, building on his achievements as our former chief underwriter for long tail and specialty classes. We are convinced that Mike will bring Qatar Re’s ongoing transition to a business model based on lower volatility and more reliable profitability to a successful conclusion.”

Straaten added: "I am excited to take the helm at Qatar Re at a time when our company is increasingly generating its own business from market segments that we understand thoroughly. We embarked on this course more than two years ago and are starting to reap the benefits. Our expertise in these areas is obviously a major boon for us against the backdrop of stubbornly tough trading conditions in global re/insurance. I am looking forward to working with the Qatar Re team towards positioning our firm as a profitable enabler of innovative and entrepreneurial business models in insurance.”