Bermuda-primarily based international Atlantic financial
organization limited announced that Tom Milligan, Co-CEO of its Ariel Holdings
restricted subsidiary, will retire upon the last of the planned sale of Ariel
Re businesses to Brazil’s Banco BTG Pactual S.A.
Tom Hulst, presently Co-CEO overseeing all underwriting and
commercial enterprise operations, will remain in the role of CEO at the close
of the transaction, which is currently pending regulatory approvals.
“whilst the sale of Ariel Re to BTG Pactual closes, the time
will be proper for me to step down,” Milligan said. “Ariel has an high-quality
crew and song record and the commercial enterprise can be in top notch arms
with Ariel Re leadership team and its new proprietors.”
Milligan has been with worldwide Atlantic for nine years,
predating the business enterprise’s separation from Goldman Sachs in 2013.
global Atlantic Chairman and CEO Allan Levine thanked
Milligan for “his substantial contributions to our business. After setting up
our assets and Casualty franchise in Bermuda in 2005, he played a leading role
in our access into Lloyds of London in 2008 and our acquisition of Ariel Re in
2012. As Co-CEO of Ariel Holdings, Tom has been instrumental in putting method,
and inside the increase and strong economic consequences of the enterprise.”
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