Connect with us

Hi, what are you looking for?

Jewish Business News

Leadership & A-List

Sandy Weill Back In Action As Chairman Of Hamilton Insurance

 

 

Sanford_Weill_2_Shankbone_Metropolitan_Opera_2009 Sandy Weill

Sandy Weill

Hamilton Insurance Group, Ltd., the property and casualty insurance and reinsurance group, today announced that veteran financier Sanford “Sandy” Weill will serve as Chairman of the group’s Board of Directors.

This is a major catch for the privately held insurance company, and brings Sandy Weill back to his insurance roots. In the explosion of giant integrated financial service companies in the nine eighties and nineties Sandy Weill had played a lead role by merging Citibank and the Travelers Group in 1998.

In recent times the whole idea of such enormous one-stop shops, combining commercial banking, money management, investment banking and insurance all under one roof has become discredited and, indeed, Weill himself is reported to even have changed his own mind about its value as well.

In making the announcement Hamilton’s President and Chief Executive Officer Brian Duperreault said “Under his leadership, and with our forward-thinking management team, I have no doubt that our goal of establishing a leading insurance and reinsurance business will be realized. It’s an honor to serve with Sandy.”

“Sandy Weill is an icon in the financial services sector, someone who has been at the forefront of change throughout his career, ” he added.

In explaining the move Sandy Weill says, “I think it is rare to have an opportunity to be involved with people who have an exemplary record in what is necessary to run a successful insurance company.”

“Brian Duperreault has run businesses very successfully in all parts of the insurance industry from Marsh & McLennan, to the ACE Group in Bermuda, as well as his long stint at AIG.”

“Brian’s teaming up with Two Sigma marries insurance expertise with an outstanding record of investment expertise, a combination that I believe will work well together, and I look forward to working with the Board on the opportunities and challenges that lie ahead.”

Weill was referring to the deal announced in December whereby Hamilton Insurance, and data driven investment company Two Sigma, agreed to acquire the reinsurance assets and business of Stephen Cohen’s SAC Capital. SAC has been forced to withdraw from managing outside money, as part of the resolution of its insider trading legal problems, and to revert to being just a family office for Stephen Cohen’s own investments.

About Hamilton Insurance Group

Hamilton Insurance Group leverages analytics and research to create underwriting and investment value for its clients and shareholders. As of December 31, 2013, Hamilton Insurance Group had approximately US$800 million in capitalization.

About Hamilton Re

Hamilton Re, a Bermuda-based Class 4 property and casualty reinsurer, is rated “A-“ (Excellent) with a stable outlook by A.M. Best Company, Inc.

 

Advertisement. Scroll to continue reading.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement