Bermuda-based Ariel Holdings Ltd. has announced the appointment of George Rivaz as Chief Executive Officer. He “succeeds Don Kramer, the long-time insurance deal-maker who was instrumental in founding Ariel and who will continue to serve as non-executive Chairman of the Company,” the bulletin explained.
Rivaz has been with the Company since its formation in December 2005, serving initially as Co-President and, since early 2008, as President. He also serves as non-executive Chairman of Ariel Reinsurance Limited and Atrium Underwriting Group, the Company’s two principal operating subsidiaries. He has 25 years of industry experience in a variety of underwriting and management positions.
Kramer cited Rivaz’ “deep understanding of underwriting strategy and risk management,” and noted that he “was a key player in establishing Ariel Re’s franchise, led our acquisition of Atrium in 2007, and has positioned the Company well to take advantage of opportunities ahead.”
The bulletin noted that “Ariel was established in 2005 by some of the world’s leading private equity investors and Mr. Kramer. Since its inception, Ariel grew its initial $1.0 billion equity to more than $1.7 billion at the end of 2009 having reported record profits for the recently concluded fiscal year.”
Source: Ariel Holdings – www.arielre.com
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