Endurance Specialty Holdings, a Bermuda-based provider of property and casualty insurance and reinsurance, is to expand its Asia Pacific reinsurance business with the addition of its Singapore-based Global Catastrophe Reinsurance (GCR) business unit in the region.
The Asia Pacific reinsurance business is headed by Patrick Aeschbacher, who joined Endurance in 2008 and reports to Global Reinsurance CEO Jerome Faure.
The GCR unit will be handled by Rene Lamer by the end of 2013, who will report to GRC head, chief underwriting officer and executive vice president Stephen Young.
Lamer will move from the position of senior vice president and head of Asia Pacific Property Catastrophe Reinsurance to Singapore, where he will be supported by local Property Catastrophe underwriting team.
Faure said bolstering their underwriting resources in this region reflects their deep commitment to the Asia Pacific region.
"Patrick’s extensive network and specialized experience in this market have generated significant growth over the past 5 years and I am confident in renewed development in the region as we continue to strengthen our Singapore operation," Faure added.
Aeschbacher said Rene’s underwriting acumen and extensive modeling experience have proven to be a valuable resource to their clients and brokers in the region and they are excited that he will be more accessible to them.
Young said with Rene’s relocation to Singapore, they have substantially increased their capability to write catastrophe reinsurance locally in Singapore.
"This move will foster greater collaboration between our Asia Pacific business partners and our Global Cat team," Young added.