Flagstone Realigns Management; Prestia Named CEO Flagstone U.S

August 10, 2011

Luxembourg-based Flagstone Reinsurance Holdings announced that Gary Prestia has been appointed CEO of Flagstone Representatives (US) Inc. and chairman of Mosaic NY, effective September 1.

He will be stepping down as chief underwriting officer for North America at Flagstone RĂ©assurance Suisse SA, and will turnover underwriting responsibilities to other current executives. Prestia will remain a member of Flagstone’s executive committee and will be based in New York City.

In connection with the change, the company announced that Guy Swayne, currently chief underwriting officer for International, has been named executive vice president of Flagstone RĂ©assurance Suisse SA, with executive responsibility for underwriting in Bermuda as well as oversight of all international underwriting centers, including Lloyd’s where he currently serves as chairman of Flagstone Syndicate Management Limited.

David Flitman, currently chief actuary, will assume the newly created role of executive director of Global Property Underwriting, reporting directly to Swayne. Flitman will oversee the underwriting of both the North American and international property businesses, which are managed by Joseph Hooks and Jeffrey Franklin, respectively.

Hooks, currently deputy chief underwriting officer for North America, will assume the role of chief underwriting officer for North America.

David Brown, Flagstone CEO described the decision to relocate Prestia to New York as an opportunity to increase the firm’s contacts with existing North American property clients and grow the Mosaic NY energy and inland marine operation.

Source: Flagstone Reinsurance Holdings, S.A.

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