Acacia poaches CUO from Peak Re

Acacia Holdings, the specialist reinsurance and retrocession investment company backed by Oaktree Capital Management, has appointed a new chief underwriting officer.

Lawrence Cheng previously served as managing director and head of property & casualty at Peak Re, where he was also a founding member of its leadership team. He led the firm’s development of third-party capital vehicles and served as Co-CEO of Peak Capital, a Bermuda-based ILS asset manager. A qualified actuary, Cheng started his career at Markel Liberty in London before moving to Aon to set up and oversee their actuarial practice in China.

Charlie Fry, CEO of Acacia, said: “Lawrence Cheng is a highly regarded and respected insurance industry executive. His excellent track-record as an underwriter and his extensive analytical experience will enhance the value that Acacia provides to its investors, re/insurers and distribution partners. We are delighted to have him on board.”

Lawrence Cheng said: “I am very pleased to be joining the Acacia team at this stage of the company’s development. I am really impressed with their vision to create long-term value through offering an exceptional experience to our clients. Acacia is on an exciting journey and has outstanding support from its trading partners. I look forward to contributing to the company’s success.”

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