Bermuda-based Ariel Reinsurance Company Ltd. has opened a branch office in Zurich to engage in the writing of credit & surety reinsurance on a global basis starting with the 2010 renewal season.
The Zurich Branch, located in Zurich’s main insurance district, is headed by Thomas Rothenberger, senior executive and branch manager, who will report directly to Tom Hulst, President of Ariel Re.
Joining Rothenberger are Michael Hammer, head of underwriting and Alban Fauchere, who is responsible for directing risk and analytics. “All three joined Ariel Re from Swiss Re together with a team of specialists and technicians. Together they have established an underwriting platform of experienced professionals to address a specific market opportunity,” said the bulletin.
Don Kramer, Chairman and CEO of Ariel Holdings Ltd., noted that the new team “extends our program of diversification and growth. The target lines of business are in a hardening specialty market that developed following a difficult period due to the global economic crisis.”
Rothenberger added: “Ariel Re’s strong capital position, sophistication and risk culture provide us with an excellent base for us to serve our global clientele. We are excited to bring new capacity to our markets and are pleased to be a part of such a high quality reinsurance operation.”
Source: Ariel Re – www.arielre.com
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