Valor Management appoints CEO

Valor Group, the company which recently acquired Bermuda International Insurance Services and merged it with VL Assurance (Bermuda), has made a number of appointments to its Bermuda management team.

The Bermuda management team, through Valor Management, will be responsible for the distribution, underwriting and administrative operations for VL Assurance (Bermuda) as well as VL Assurance, a Barbados registered carrier.

Louis Zuckerbraun has been appointed chief executive officer (CEO) and Michael Lima, formerly of Bermuda International, joins the company as general manager and executive vice president.

Zuckerbraun previously served as co-CEO of a Swiss life and annuity company, Zenith Vie. He has also held positions at Transatlantic Re and Hannover Re.

In addition, Karl Lupson remains with the new organisation and has been named as chief operating officer and Mark Waddington has been appointed as chief financial officer.

Zuckerbraun said: “We are excited about the acquisition of Bermuda International. With Valor Group’s $6 billion assets under management, a financially secure parent company and experienced management team, we are well positioned to service our clients.

“Furthermore, we have developed an operational centre in Bermuda to provide administrative and underwriting support and will be adding significant resources in the areas of underwriting, marketing, products and industry experience that will position us well for future growth.”