Ariel Re, a Bermuda-based reinsurance business with offices in Bermuda, London and Hong Kong has announced two new appointments to the senior management team in Bermuda.
The company said that these additions align with Ariel Re’s vision of being the premier manager of reinsurance risk.
Mike Pedraja, who previously served as Senior Vice President and Treasurer of Allstate Insurance, has been appointed Group CFO. In this role he will be responsible for leading the Finance function as well as Capital Management and Investor Relations. Mike has over three decades of experience in Finance, starting his career as an Accountant before moving into Investment Banking.
Tim Shreeve has been appointed Head of Platform Development and will be responsible for the further development and operation of Ariel Re’s underwriting platforms. Tim joins from Nephila, where he was the Head of Platform Planning, and he has a broad background in Finance, Reinsurance Operations and Underwriting.
Commenting on these new hires, CEO Ryan Mather said, “I am delighted to welcome Mike and Tim to Ariel Re and look forward to working closely with them both. They are both seasoned leaders with strong expertise who enhance the overall strength of our team. It is a testament to the Ariel Re brand that we continue to attract such world class talent.”
“We have a well-established book of business, smart underwriting and market leading portfolio optimisation capabilities that have allowed us to develop strong relationships with brokers and clients in the key classes of business we write.”
“Ariel Re has ambitions beyond being a market player. We want to focus on a few lines of business to become meaningful in those spaces. These strategic hires will enable Ariel Re to become a bigger, bolder player in the reinsurance industry and help fulfil our strategy for building a world-class manager of reinsurance risk.”