OdysseyRe Holdings has announced that Brian Young will become the CEO of global insurance and London market operations, effective April 1, 2008.
Mr Young presently manages OdysseyRe’s London market division. In his new position, Mr Young will have overall responsibility for OdysseyRe’s US insurance and London market divisions.
The present management structure of OdysseyRe’s US insurance division will remain in place, with Jim Migliorini, CEO of US insurance, reporting to Mr Young. Through its Hudson insurance group, the division provides underwriting capacity on an admitted and non-admitted basis to medical malpractice and specialty insurance markets.
Carl Overy will assume local senior management responsibility in London as OdysseyRe’s new CEO of London market division, and report to Mr Young. Mr Overy is currently the chief actuary of the London market division, and has been a member of OdysseyRe’s management team in London for the past six years.
The division underwrites casualty insurance and treaty reinsurance on a worldwide basis through OdysseyRe’s London branch, Newline Insurance Company Limited and Newline Syndicate 1218 at Lloyd’s.
Andrew Barnard, CEO of OdysseyRe, said: Unifying the reporting structure of our London and US platforms is an important step in optimizing the development of OdysseyRe’s insurance activities on a global basis. Brian’s proven management skills, and the variety and depth of his industry experience, make him well-suited for this important new position.