Catalina hires new group CFO from AXA XL

Bermuda-based legacy re/insurer Catalina Holdings has appointed Derrick Irby as group chief financial officer. He joins from AXA XL.

Irby is replacing Chris Fleming who has been with Catalina since its first acquisition of OPRe in 2005.

Irby will oversee Catalina’s group finance function, helping to develop the business across multiple geographies, and use his experience to help prepare the business for its next phase of growth and strategic development.

He will be based in Bermuda and start his new position from May.

Irby has 22 years of experience advising and leading the finance activities of insurance and reinsurance companies, including managing finance operations, structuring re/insurance and capital markets transactions, strategic investments, mergers and acquisitions and related integration activities.

His most recent role was head of finance, P&C insurance and reinsurance at AXA XL. Prior to that, he held progressively more senior financial and leadership roles in the reinsurance division of XL and its acquired companies.

Chris Fagan, chief executive of Catalina Holdings said: “I am delighted that Derrick has chosen to join Catalina. He has extensive experience as a senior finance professional in insurance and reinsurance, including in the public markets, and will play an important role as we prepare Catalina for its next phase of development."

Fagan added: “I would like to express my thanks to Chris Fleming who has been with Catalina since our acquisition of OpRe. He has made a significant contribution to Catalina’s development and has been an important member of the senior team.”

Irby commented: “I am pleased to join Catalina at this exciting time for the business. I look forward to working with Chris, the management team and the board of directors helping to execute the business’ strategy by capitalising on the significant opportunities present in the legacy space.”