Sandy Weill, who retired as chairman of US-based Citigroup in 2006, has been appointed as chairman of the board at Hamilton Insurance Group – the holding company for Hamilton Re, which recently saw the exit of hedge fund manager Steven Cohen.
Weill, who was instrumental in assisting the 1998 merger of insurer Travelers Group and Citicorp, will head the board of directors for industry veteran and company CEO, Brian Duperreault’s insurer, which had around $800 million in capitalisation at the end of last year.
“Sandy Weill is an icon in the financial services sector,” said Duperreault in a statement. “I have no doubt that our goal of establishing a leading insurance and reinsurance business will be realised.”
Hamilton, which was formed in December, is backed by a number of investors including Two Sigma Investments, Capital Z Partners, Performance Equity Management and other additional large institutional investors.