OdysseyRe Taps Young to Head Global Insurance, London Market Operations

U.S.-based Odyssey Re Holdings Corp. announced that, effective April 1, 2008, Brian Young will become Chief Executive Officer – Global Insurance and London Market Operations. He presently manages OdysseyRe’s London Market Division. In his new position, Young will have overall responsibility for OdysseyRe’s U.S. Insurance and London Market Divisions. He will relocate from London to New York.

The present management structure of OdysseyRe’s U.S. Insurance Division will remain in place, with Jim Migliorini, CEO-U.S. Insurance, reporting to 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 nationwide.

Carl Overy will assume local senior management responsibility in London as OdysseyRe’s new CEO – London Market Division, reporting to Young. 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.

OdysseyRe’s CEO Andrew A. Barnard indicated, “unifying the reporting structure of our London and U.S. platforms is an important step in optimizing the development of OdysseyRe’s insurance activities on a global basis.” He noted, “Young’s proven management skills, and the variety and depth of his industry experience, make him well-suited for this important new position.”

Source: Odyssey Re – www.odysseyre.com