Veghte To Head XL’s General Reinsurance Business, Plus Other People Moves

Bermudian insurer XL Capital has promoted James Veghte to the position of chief executive of general reinsurance operations.

• Bermudian insurer XL Capital has promoted James Veghte to the position of chief executive of general reinsurance operations. He will continue to be chief executive of XL Reinsurance America.

He has taken over the responsibility from Henry Keeling, who was performing the dual role of head of XL’s reinsurance business and global head of the firm’s business services division. Keeling will now focus more on running the business services unit, but will still be responsible for XL’s life reinsurance operations.

XL has also named Sarah Street chief investment officer designate. She will replace Christopher Greetham when he retires in September. Street will keep her old job as chief executive of XL Capital Investment Partners.

In addition to their new jobs, both Street and Veghte will join XL’s executive management board.

John Rowe, chairman and chief executive of U.S. life insurer Aetna, is to retire by the end of 2006. Ronald Williams, the firm’s president, will become president and CEO on Feb. 14.

• U.K. life insurer Aviva has reshuffled its senior management. Patrick Snowball, group executive director for general insurance, will become group executive director of Aviva U.K. He will be responsible for all Aviva’s U.K operations except Morley Fund Management. Snowball will also become executive chairman of Aviva subsidiary Norwich Union Life.

Philip Scott, group executive director of Aviva’s international life division, will become group executive director of Aviva International. He will be responsible for all Aviva’s life and general insurance and long-term savings businesses outside the U.K. This includes those in Canada and Ireland, which Snowball previously headed. Scott will continue to be chairman of Morley Fund Management.

Thomas Klemens, CFO of U.S. insurance firm First American Corporation, has died. He first joined the firm in 1985 as v.p. and controller.

Amlin Credit, the trade credit insurance division of U.K. insurer Amlin, has hired Ray Massey as risk director. He previously worked at American International Group, where he was responsible for client relationships and risk strategy for the firm’s trade credit portfolio.

• The National Association of Insurance Commissioners in the U.S. has hired Cheye Calvo as manager for government relations, policy and legislation. It has also appointed Brian Webb as manager for health, legislation and policy.

• Insurer Ace USA has appointed David Patterson as president of ESIS, the firm’s risk management services subsidiary. He was previously ESIS’s executive v.p. of claims and account management.

Wallace Timmeny has retired from the board of directors of Bermudian insurer and reinsurer Quanta. He had been a board member since Quanta’s launch in 2003.

• U.K. insurer Kiln has appointed Paul Hewitt and Paul Wilson as non-executive directors. Both men have also become members of the firm’s audit and risk committee and its remuneration committee.

• U.S. insurance group WR Berkley has hired James Crutchley to head Facultative ReSources, which underwrites facultative reinsurance through the broker market on behalf of Berkley Insurance Company. Crutchley has worked at Fac Re since its formation in 1986, and was previously its senior v.p., Connecticut branch manager and chief casualty underwriting officer.

In addition, WR Berkley has hired Karen Horvath as v.p. of financial communications. She joins from rating agency AM Best, where she was vice-president of ratings development.

• Bermudian reinsurer PXRe has appointed Robert Myron as executive v.p., CFO and treasurer. He replaces former CFO John Modin, who the company says has left to pursue other opportunities. Myron was previously PXRe’s senior v.p. and treasurer.