Validus Holdings, Ltd. announced that Romel Salam has been promoted to Executive Vice President and Group Chief Risk Officer, effective April 2, 2013.
Salam has nearly 25 years of industry experience, most recently serving as the Chief Actuary and Chief Risk Officer of Validus Reinsurance, Ltd.. Prior to joining Validus Re in 2010, Mr. Salam was a Senior Vice President at Transatlantic Reinsurance where he spent 20 years in positions of increasing responsibility.
Salam is a Fellow of the Casualty Actuarial Society and Member of the American Academy of Actuaries.
Salam will report to John Hendrickson, Validus’ Director of Strategy, Risk Management and Corporate Development.
In a statement, Hendrickson commented on the appointment: “I am very pleased that Romel has accepted the position of Validus Group Chief Risk Officer. His skill set, experience and drive will lead Validus’ continued progress on critical enterprise risk management initiatives including capital modeling and exposure management. This internal appointment also further demonstrates Validus’ significant management depth.”
Salam replaces outgoing Chief Risk Officer Stuart Mercer, one of the original founders of Validus, who will support the Group’s ongoing strategic initiatives.
Salam’s appointment is subject to the approval of the Bermuda Department of Immigration.
Source: Validus Holdings, Ltd.