People Moves: Laurent to Succeed De Macedo as CEO of Covéa Insurance in UK; Ryan Re Taps Berkshire Hathaway’s Gorman as Head of Facultative and Facilities

This edition of International People Moves details appointments at Covéa Insurance and Ryan Re Underwriting Managers.

A summary of these new hires follows here.

Laurent to Succeed De Macedo as CEO of Covéa Insurance in UK

Covéa Insurance, the UK underwriting business of Paris-based mutual insurer Covéa, announced that Xavier Laurent has been appointed chief executive officer, succeeding Georges De Macedo who is stepping down and returning to his native France.

Laurent, whose appointment is subject to regulatory approval, joins from Covéa Group. De Macedo has served as CEO since June 2023.

Covéa described Laurent as a highly respected leader with a strong record of success in general insurance who aligns well with the company’s culture and values. He brings extensive experience in strategic leadership and is well positioned to guide the UK business through its next phase of growth.

Laurent has joined the executive team and is working alongside De Macedo during a three-month transition period to ensure a seamless handover and continuity. In the future, De Macedo will remain within the group and continue supporting Covéa UK as a board member providing strategic oversight for the UK business.

“I’m proud of what we’ve achieved in the UK. This achievement is attributable to the commitment and the passion of Covéa teams as well as the valuable support provided by our partners. I have full confidence in Xavier to lead the teams and continue this success story. As a member of the board of Covéa Insurance, I remain deeply committed to the UK business,” De Macedo said.

“On behalf of the Board I’d like to thank Georges for his major contribution to Covéa Insurance over the last couple of years. We are pleased that his ongoing involvement in the Covéa UK Board will provide both insight and continuity into the future,” commented Chris Moat, chairman of the board.

He went on to welcome Laurent to Covéa UK, subject to regulatory approval. “[H]is extensive experience will be an important ingredient to lead the company through its next phase of growth.”

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Ryan Re Taps Berkshire Hathaway’s Gorman to Lead Facultative and Facilities

Ryan Re Underwriting Managers (Ryan Re), a managing general underwriter focused on property/casualty reinsurance, has appointed John “JJ” Gorman as head of Facultative and Facilities, effective October 1.

Gorman will initially focus on casualty facultative business it has received as a result of the sale of Markel’s renewal rights reinsurance flow of business to Nationwide.

(Editor’s note: Specialty insurer Markel Insurance announced in August it had sold the renewal rights for its $1.2 billion global reinsurance business to Nationwide. Nationwide is delegating the underwriting and management of all renewal policies included in this transaction to Ryan Re Underwriting Managers, a managing general underwriter of Ryan Specialty).

Gorman is an experienced global insurance leader with over 30 years in the business and has held a variety of senior roles in reinsurance. He most recently was head of Facultative at Berkshire Hathaway, where he started the property/casualty facultative business, building it into a leading player in the space.

“JJ is a market leader in the facultative business, and we are thrilled that he is joining our team to help build out this important product for us,” commented Ryan Re President & CEO Emil Issavi in a statement. “Ryan Re has enjoyed continuous growth since launching in 2019, and JJ’s leadership will allow us to build a scalable fac and facility business to better serve our clients growing needs.”

Beginning October 1, Gorman can be contacted at john.gorman@ryansg.com.