Brazilian reinsurer IRB-Brasil Resseguros S.A. (IRB Brasil Re), has announced Hugo Daniel Castillo as a candidate for the ninth member of the company’s Board of Directors, and has also confirmed the appointment of Isabel Blázquez Solano as Reinsurance Executive Vice President.
Castillo’s appointment was confirmed recently by the company’s management and is with a view to IRB Brasil Re expanding the maximum number of members to nine from eight directors, as approved at the extraordinary general meeting held by the firm on June 23rd.
He brings four decades of reinsurance industry experience to the firm, having recently developed his career at General Re Argentina, where he served as P&C Regional Officer for Latin America, Spain and Portugal.
He also served as an executive member of the Board of Directors at General Re Argentina, and executive vice president responsible for P&C contracts for Continental Europe, Middle East, South Africa, and Latin America. Previously, he has worked for Munich Re Canada, Bradesco Seguros and Sulamérica.
Additionally, IRB Brasil Re has confirmed the appointment of Solano to the new statutory position of Reinsurance Executive Vice President (EVP). The new statutory position of the executive officer, who acted as the firm’s International Underwriting Director, was possible due to the change in IRB Brasil Re’s bylaws, approved at the Extraordinary General Meeting held on Jun 23rd, explains the firm.
She has been with IRB Brasil Re since 2013, having served as its Underwriting Director of International P&C, Oil & Gas, and Retrocession. Her appointment remains subject to regulatory approvals by SUSEP.
IRB Brasil Re announced recently that it is looking into a potential capital raise to support its liquidity margin and improve its cash position.