Catalina acquires $2bn employers’ liability portfolio from Zurich
Catalina Holdings has named Steve Ryland as chief executive of Catalina UK.
Ryland has over 30 years of insurance and reinsurance experience. He joins from Armour where he was a member of the executive management committee, a company he was at since its inception. Before that he was executive director at PRO Insurance Solutions, Swiss Re’s former service entity.
He will take up his position at Catalina in January, subject to regulatory approval, and will oversee the UK operation, helping drive all aspects of its strategy. This includes the integration of the $2bn of employers liability policies recently transferred to the Bermuda operation from Zurich Insurance, claimed to be the largest ever portfolio transfer of UK employers’ liability policies. He will also look to increase operational efficiencies, identifying and executing on market consolidation opportunities.
Since being founded in 2005 Catalina has completed 28 transactions with total liabilities of $7.5bn.
Chris Fagan, chief executive of Catalina Holdings, called Ryland “an industry heavyweight that we have long admired,” welcoming his wealth of experience.
“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,” added Fagan.
Catalina Holdings, Steve Ryland, Chris Fagan, Armour