We have a number of executive appoints to tell you about form Arch Insurance Group, Validus, QBE and Novarica:
Arch Insurance Group named a Starr Companies executive and AIG veteran as a senior vice president in charge of new products for U.S. based multinational company clients.
Specifically, Shane McCaffrey will head development of Arch’s Defense Base Act (DBA) and Foreign Casualty insurance, targeted for U.S. based multinationals. He’ll work from Arch’s New York City office and report directly to Arch Insurance Group Executive Vice President Rich Stock, head of Arch’s construction, national accounts casualty and excess workers compensation business units.
Prior to Starr, McCaffrey was with American International Group, where he supervised a portfolio of contractors working overseas for the American government. He focused on claims, cross selling, loss control and underwriting protocols relating to the DBA.
McCaffrey has more than 30 year experience involving foreign casualty underwriting. For the last decade, he focused on DBA coverages – mandatory insurance for companies that win contracts from the U.S. government to perform work overseas.
Arch Insurance Group is part of Arch Capital Group Ltd., a Bermuda-based company that offers insurance and reinsurance through its wholly owned subsidiaries around the world.
Validus Re, the reinsurance arm of Validus Holdings Ltd., appointed James Franson as president of Validus Americas, Validus Re’s U.S.-based managing general agent, which handles underwriting for its Swiss Reinsurance company.
This is a newly created position. Franson will be tasked with expanding Validus Re’s domestic U.S. reinsurance strategy and also developing a casualty reinsurance business operation. He’ll be based in New York City and report to Jeff Clements, Validus Re’s chief underwriting officer.
Most recently, Franson was chief underwriting officer for Arch Reinsurance Company, where he handled all property/casualty underwriting in the U.S. and Canada.
Separately, parent company Validus Holdings appointed Catherine Cossu as senior vice president, effective Sept. 14. Her mission will be to strengthen its financial institutions practice.
The Catlin U.S. veteran will head a team of eight people, based in the U.S., with a focus on writing as an MGA on behalf of Western World Insurance Group. They’ll offer, on a primary and excess basis, financial institutions products covering areas including management, professional and employment practices liability.
Australia’s QBE appointed Colin Fagen as group chief strategy officer, in a bid to spur new growth. This is a promotion for Fagen, who is currently CEO for QBE’s Australian and New Zealand operations.
In his new position, Fagen will be tasked with leading major growth and efficiency initiatives for QBE’s operations around the world, with a focus on making sure it can leverage its global presence to drive top and bottom line growth.
Separately, Tim Plant, current head of QBE Australian and New Zealand’s Corporate Partners and Direct (CP&D) business, has been promoted to CEO for QBE’s Australia and New Zealand Operations, replacing Fagen.
Novarica, a research and advisory firm focused on insurance business and technology strategy, hired on Frank Petersmark as an associate vice president of research and consulting.
Previously, Petersmark was the CIO advocate at X by 2, a technology consulting company focused on software and data architecture/transformation projects for the insurance industry. He also is a 21-year veteran of Amerisure Mutual Insurance Company, where he was chief information officer and vice president of information technology for 13 years.
Sources: Arch Insurance Group, Validus Re, QBE and Novarica.