Catalina strengthens board to reflect growth of the business

Catalina Holdings has appointed Bruce Hemphill as non-executive chairman of its board, while Caroline Foulger becomes senior independent non-executive director.

Hemphill was appointed as a non-executive director to Catalina’s board in 2019. He was formerly CEO of Old Mutual and has experience working with governments, regulators, shareholders, bondholders and the media across international markets and jurisdictions. He has served as chairman of Old Mutual Wealth and Old Mutual Emerging Markets, and was a non executive director at Nedbank from 2015-18. He also serves on the board of Aspen Insurance.

Foulger has been an independent non executive director of Catalina since 2014 and chairs its audit committee. She also sits on its conflicts committee. She was formerly a partner at PwC Bermuda for 12 years, specialising in serving the re/insurance industry with audit and advisory services.

The appointments reflect Catalina’s growth, with the re/insurer now having total assets of $7.2 billion, following the acquisition of Asia Capital Reinsurance.

Chris Fagan, chief executive of Catalina, said: “[Hemphill’s] appointment as non executive chairman is an important step in Catalina’s governance, splitting the combined chairman and chief executive role for the first time.”

Hemphill added: “This is a great business which has made tremendous progress in recent years and firmly established itself as one of the leading players in the insurance legacy space.”