19 July 2019Life

Fairfax replaces Allied World CEO

Scott Carmilani has moved to Fairfax Insurance Group, with Lou Iglesias replacing him as CEO of Allied World.

Iglesias, formerly president of Allied World and working under Carmilani for over seven years, reports to Andy Barnard, president of Fairfax Insurance Group.

Carmilani takes a new role at Fairfax, established to promote organic growth and collaboration initiatives across Fairfax’s insurance and reinsurance operations worldwide - of which Allied World is one.

He will build on his network of contacts and broker and customer relationships in order to foster new growth initiatives, such as Fairfax Worldwide, and new collaboration initiatives with our insurance and reinsurance leaders around the globe.

Carmilani built Allied World from a small Bermuda operation into a worldwide name in re/insurance, before it was acquired by Fairfax in 2017. He will work closely with Barnard and Paul Rivett, president of Fairfax Financial.

Prem Watsa, chairman and chief executive officer of Fairfax, said: “While always mindful of retaining our decentralised structure, we and the entire organisation will benefit from Scott’s guidance, energy and collaborative spirit. Meanwhile, at Allied World, Lou Iglesias, chosen by Scott as his successor, is a strong leader with the ability to continue to profitably grow the Allied business.”

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.