Fairfax Financial Holdings has announced the appointment of Scott Carmilani to Fairfax Insurance Group in a new role that will see him promote organic growth and collaboration initiatives across the company’s global re/insurance operations.
At the same time, Lou Iglesias has been appointed to take over from Carmilani as Chief Executive Officer (CEO) of Allied World, Fairfax revealed.
In his new role, Carmilani will work closely with Andy Barnard, President of Fairfax Insurance Group, and Paul Rivett, President of Fairfax Financial.
As CEO of Allied World, Carmilani spent the past 20 years building the company up from a small Bermuda operation into a large worldwide re/insurance operation, with its eventual acquisition by Fairfax in 2017.
Now, Carmilani will build on his network of contacts and broker and customer relationships to foster new growth and collaboration initiatives at Fairfax.
Iglesias, meanwhile, is expected to transition smoothly into his new position, having previously served as President of Allied World, working under Carmilani for over seven years. He will now report to Andy Barnard.
“We are privileged to have an executive of Scott Carmilani’s calibre focused on building Fairfax’s global organic growth initiatives,” said Prem Watsa, Chairman and CEO of Fairfax.
“While always mindful of retaining our decentralized structure, we and the entire organization will benefit from Scott’s guidance, energy and collaborative spirit,” he continued.
“Meanwhile, at Allied World, Lou Iglesias, chosen by Scott as his successor, is a strong leader with the ability to continue to profitably grow the Allied business.”