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13 December 2018 Insurance

Haven Holdings hires former CIMA insurance boss as COO

Haven Holdings, a specialist runoff insurer based in Puerto Rico, has appointed Gordon Rowell as the chief operating officer of Time Insurance Company, a business it recently acquired from Interfinancial, a subsidiary of Assurant.

Rowell will relocate to San Juan, Puerto Rico, to lead Haven Holdings’ insurance operations in Puerto Rico.

Rowell will also serve as a senior vice president of Haven Holdings and the chief operating officer of Haven Services, a Puerto Rico corporation which has applied for Act 20 status under one of Puerto Rico’s tax incentive programmes.

Rowell has twice served as the Insurance Commissioner for the Cayman Islands Monetary Authority (CIMA), first from 1997 to 2003, and a second time during the financial crisis from 2009 to 2014.

He was also twice the CEO of the Cayman Islands National Insurance Company, the largest insurance company on the island, which operates the state-run health insurance system.

From 2014 to 2016, Rowell was a vice president of Marsh Management Services (Cayman) and since 2017 he has been the chief reinsurance officer of TWG Re, a reinsurance subsidiary of The Warranty Group, which was acquired in May 2018 by Assurant.

Jonathan Feldman, president of Haven Holdings, said: “We are delighted to have Gordon Rowell join Haven to lead the day-to-day insurance activities of Time Insurance Company II, as well as assist us with the integration of future acquisitions. Gordon has a unique perspective as both a senior regulator and insurance executive, and brings with him decades of experience which we expect will be most helpful as we pursue our business plan of acquiring runoff insurance blocks.”

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