• Bermudian insurance group White Mountains has hired Tom Hutton, a former CEO of risk modeller Risk Management Solutions, to lead its global reinsurance operations. In addition to serving as president and CEO of White Mountains Re, Hutton will continue to serve as director of two public companies: U.S. insurer Safeco and fellow Bermudian firm Montpelier Re.
Hutton has spent the past five years as a consultant for private equity investors and their ventures, advising on transactions and providing management oversight. Before spending 10 years at the helm of RMS from 1990 to 2000, he worked for management consultancy McKinsey & Company.
• American International Group has reached a settlement agreement with former employees Peter Yu and William Jarosz, whom it had accused of stealing proprietary information to form a rival firm. The company did not give details of the settlement, but noted in a statement that the money the employees felt is owed to them by AIG will not form part of the settlement arrangement. AIG also got statements from the two that dismissed their earlier charges that AIG Capital Partners’ termination of their employment was retaliatory.
• Bermudian life reinsurer Scottish Re has hired Peter Grewal to the newly-created position of senior v.p. in charge of strategic auditing. Grewal joins the company from the Bank of Bermuda, where he spent five years, most recently as head of internal audits. Before that, he held positions with JP Morgan Chase and Deutsche Bank in London.
• Broker Integro has bolstered its New York office with three new hires. Nicholas Conca, previously senior managing director of boutique broker Frank Crystal & Company, will assume the role of managing principal and head of management risk. He will be supported by fellow principles Gary Moore, previously senior vice-president for Aon‘s marine practice, and Paul Perks, previously senior v.p. of Marsh in New York.
Separately, the company has appointed Timothy Georges as principal of its Atlanta office. Georges previously served as senior v.p. of claims for Marsh & McLennan, and as v.p. with privately-held broker Johnson & Higgins before that.
• American International Group has promoted David Hupp to the position of president and CEO of AIG Aviation, its Atlanta aviation subsidiary. He replaces Steven Blakey, who has left the company. Hupp previously served as senior executive in charge of the eastern region of AIG’s domestic US operations.
In addition, the company has promoted Martin Stevens as chief underwriting officer of AIG Aviation. He will continue to be based in London.
• Thomas Forrester, CFO of U.S. motor insurer Progressive Group, will retire in the first quarter of 2007. The company expects to be able to find his successor from within the organization between now and that time, and will not be conducting an external search.
• Oscar Tengtio has rejoined U.S. insurer Farmers Insurance Group in his old role as CFO of subsidiary New World Life Insurance Company. Tengtio had left this role to become CFO of life insurance and employee benefits specialist Symetra Financial Corporation.
• XL Capital‘s U.K. insurance subsidiary has promoted Eileen McCusker, deputy chief operating officer for the U.K. and Ireland, to chief operating officer in charge of the same regions and Scandinavia. Donal Kelly, who previously served as head of client relationship management for the U.K. and Ireland, will replace her as country manager and deputy chief operating officer.
• The Hartford Financial Services Group has hired Matthew Kirk as v.p. of federal affairs, starting Feb. 20. He will be based in Washington, D.C. He previously worked at the White House in various roles, most recently as chief lobbyist in the U.S. Senate.
• Assurex Global, a worldwide network of independent insurance brokers, has appointed Paul Hering as its new chairman. Hering, who serves as managing principal and CEO of multiline insurer Barney & Barney, succeeds Gregory Belton of Canadian firm Hunter Keilty Muntz & Beatty. Belton continues his board service as chairman emeritus.
• Reinsurance broker Cooper Gay & Cashman has hired Kirk Bitu as its senior v.p. in charge of actuarial and financial modelling. He has worked for Gallagher Re and Willis Re in Minneapolis.
The broker has also appointed Phil Sandercox as senior v.p. He joins from Berkshire Hathaway subsidiary General Re, where he spent 16 years, most recently as v.p. and regional manager. As such, he was responsible for the company’s speciality treaty business in the New England and mid-Atlantic regions of the U.S.