ACR Capital Holdings has announced plans to appoint Bobby Heerasing to Deputy Group Chief Executive and Deputy Chief Executive of its fully owned subsidiary, reinsurer Asia Capital Re, pending regulatory approvals.
Heerasing brings over 20 years’ re/insurance experience to the role, after having spent most of his career at Catlin and XL Catlin.
Since 2002 he’s served in various management and underwriting roles for Asia-Pacific, while based mostly in Singapore.
Heerasing acted as Chief Underwriting Officer of Catlin and after the Catlin and XL merger, he became Regional Underwriting Director of Asia Pacific (Insurance), taking on the additional role of Distribution Director.
Group Chief Executive, Hans-Peter Gerhardt, said; “I am particularly impressed by Mr Heerasing’s strong technical knowledge, and risk and underwriting management experience in Asia.
“Furthermore, his experience in successful change management will be a big asset for ACR at this stage, when ACR’s acquisition by its new owners is near completion. We are all very excited about his appointments.”
The Singapore-headquartered reinsurance group is in the process of being acquired by Shenzhen state-owned investment corporations, Shenzhen Qianhai Financial Holdings Co and Shenzhen Investment Holdings Co.
Heerasing is set to assume the top leadership role of Group Chief Executive (GCE), upon GCE Hans-Peter Gerhardt’s expected upcoming return to Europe.
Board Chairman, Hsieh Fu Hua, said; “Heerasing’s extensive underwriting and management experience as well as successful track record, particularly in Asia, make him an excellent fit for ACR.”
“Both the Board and ACR’s new owners have full confidence that he will be a strong leader for ACR through its ownership transition as well as in the group’s continued evolution into a leading Asian risk solutions provider.”
Commenting on his appointments, Heerasing added; “I was based in Asia during ACR’s formative years in the industry and have observed its evolution with keen interest and respect. I have been most impressed by the group’s resilience and ability to build strong, sustainable client relationships during what has turned out to be a challenging period for the industry.
“I am excited about the opportunity to lead ACR and look forward to working closely with its new owners and talented staff to build on these strong foundations of service and relevance to the reinsurance community as we collectively look to further grow the company.”
Asia Capital Re was established in November 2006 and today has a local presence in 11 territories throughout Asia.