Catalina eyes global expansion with restructure and former Aon CEO hire
Bermuda-based Catalina Holdings has restructured its business in a move it hopes will bolster its market position and help scale growth in the global insurance legacy retrospective space.
Catalina aims to increase its focus on global expansion while maintaining underwriting discipline. The company has established a new team to focus on global origination with a presence in UK/Europe, North America, Bermuda, and Asia Pacific.
The team will be led by Steve Ryland, Catalina’s head of global distribution. He will focus on the UK and European markets, Parri Spector will focus on North America, and Malcolm Steingold will lead the Asia Pacific region. The team will be supported by the Catalina M&A team which is now led by Graham Taylor.
Steingold will join Catalina on June 1. He has 39 years of insurance, reinsurance, and associated industry experience, during which time he was appointed, amongst other things, chairman and chief executive officer of Aon Benfield Asia Pacific. During Steingold’s tenure premium revenue grew from $800 million in 2005 to $6 billion in 2017.
Ian Parker (pictured), Catalina’s group chief executive officer, commented: “Since joining Catalina in February, I have already noticed an increasing number of opportunities in the market. With our new structure, not only do we hope to ensure that we see all the deals being marketed by brokers, banks, and other intermediaries, but also create opportunities ourselves by leveraging our knowledge and contacts to create longer term partnerships.
“Separating Origination from the M&A process just plays to the strengths of each team and is the next logical step to continue scaling Catalina as an innovative solutions provider to global insurers.”
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