Vacationers Fishman

“Sandy brings a amazing quantity of insurance enjoy,” Jay Fishman, the CEO of property insurer vacationers Cos. who labored with Weill at Citigroup, said in an email. “with his enterprise and extensive monetary-services understanding, he’ll provide brilliant management to the Board. Given all the modifications taking place inside the reinsurance environment, it’ll be thrilling to watch Hamilton’s method.”

Weill may be capable of assist Duperreault if Hamilton comes to a decision to buy other reinsurers, stated Meyer Shields, an analyst at KBW. The enterprise is turning into extra concentrated due to the fact corporations favor to do commercial enterprise with fewer reinsurers, Shields stated.

“He’s visible as a totally clever acquirer,” Shields said through phone. “What it approach is that offers are within the offing.”

Hamilton had about $800 million in capitalization as of Dec. 31, according to the assertion. The reinsurer formerly known as SAC Re Ltd. raised $500 million in a personal placement from founding traders which includes Cohen and private-fairness fund Capital Z partners, consistent with a statement in 2012.

Reinsurers shoulder dangers for primary insurers. Duperreault stated remaining month that Hamilton will recognition on catastrophe protection and could seek possibilities in different styles of insurance.