MAPFRE appoints CEO of International
Madrid-based MAPFRE has promoted Mr Jaime Tamayo as CEO of the International Territorial Area, effective 1 January 2017, succeeding Mr Javier Fernández-Cid, who will retire at the end of the year.
Mr Tamayo is currently the CEO of MAPFRE USA Corp and CEO of MAPFRE’s North America Region. In his new role, Mr Tamayo will oversee three regions at MAPFRE: the North America region; the Europe, Middle East and Africa (EMEA) region, and the Asia Pacific region.
Since joining MAPFRE in 1993, Mr Tamayo has held a number of executive positions in Puerto Rico and the US. He has been leading MAPFRE’s operations in the US since 2001 and in January 2014, he assumed additional regional responsibility as CEO of MAPFRE North America (US, Canada and Puerto Rico), overseeing revenues in excess of US$3.1 billion.
As CEO of MAPFRE USA, Mr Tamayo has been instrumental in the substantial expansion of MAPFRE’s business in the US from a nominal presence in early 2008 to achieving revenues exceeding $2.3 billion in 2015. Under his direction, MAPFRE solidified its leadership position in Massachusetts where MAPFRE is the largest auto, homeowners and commercial auto insurer and the company expanded its presence outside Massachusetts where it now does business in 19 states. MAPFRE USA also launched US life insurance operations in 2015.
New GCC CEO for Euler Hermes
Euler Hermes appointed Mr Jules Kappeler, previously CEO of Euler Hermes Nordic countries since 2013, as the GCC CEO effective 1 May, succeeding Mr Mahan Bolourchi.
A native of Switzerland, Mr Kappeler is responsible for Euler Hermes operations in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. He reports to Mr Luca Burrafato, Head of MMEA region.
As CEO of the Nordic Countries – with local teams in Sweden, Denmark, Norway and Finland, Mr Kappeler worked for Euler Hermes Switzerland for many years in various roles in the Market Management Commercial and Distribution area and was the Country CEO from 2010 to 2012.
Bahrain: BKIC announces retirement of CUO and names successor
Bahrain Kuwait Insurance Co (BKIC) has appointed Mr K M Kurien as Chief Underwriting Officer (CUO) effective 1 June, following the retirement of Mr Sai Gopal. Mr Kurien previously worked closely with Mr Gopal as Assistant General Manager (Technical).
Prior to his retirement, Mr Gopal spent a notable 18 years with the company, evenly divided between Kuwait and Bahrain. He was instrumental in shaping BKIC’s underwriting over the last decade. He also played a pivotal role as a member of the Gulf Insurance Group (GIG) Technical Committee since its formation in 2010.
Greece: New appointments at Fenchurch Faris
Insurance and reinsurance brokerage Fenchurch Faris has appointed Mr Rami Abu Obeid as General Manager at Fenchurch Faris Ltd (Saudi Arabia). His experience includes seven years at Arab Orient Insurance Company where he was the Technical Director of Non-Medical Insurance before becoming the Head of Construction & Engineering at Royal & Sun Alliance in Riyadh, Saudi Arabia.
Separately, Fenchurch Faris has appointed Mr Kareem Lozi to the position of Manager of Engineering at the company’s reinsurance division in Athens, Greece. Prior to this, Mr Lozi was an Energy Onshore Underwriter at International General Insurance (IGI) in Amman, Jordan.
UAE: Nexus Group names Head of General Insurance
Nexus Group has appointed Mr Phil Ashkuri as the Head of General Insurance, Commercial and Personal Lines, for the GCC region.
With nearly three decades in the general insurance industry, Mr Ashkuri has extensive experience and widespread knowledge of the global and regional market. He started his career in 1988 as an underwriter with Prudential based in London, and was appointed to a number of senior management roles over an 18-year career with the same firm. He was then appointed as the Director of General Insurance at the Bank of Ireland (UK) in 2006.
Mr Ashkuri relocated to the UAE in 2010 as the Regional Head of Insurance for HSBC, and more recently, held the role of Senior Vice President, EMEA Regional Head of Partnership Distribution at AIG.
UAE: Liberty Specialty Markets appoints AVP – Treaty
Liberty Specialty Markets (LSM) has appointed Mr Nassib Barbir as Assistant Vice President – Treaty as of 1 May 2016. Based in the DIFC, he will be in charge of LSM Treaty business in the MENA Region.
Mr Barbir brings 18 years of diverse experience in the insurance and takaful industry. Prior to joining LSM, he was the Assistant GM of Takaful Re in DIFC. He has extensive underwriting and market experience with various leading insurance institutions in the region.