Global specialty property and casualty insurer and reinsurer, Somers Group Holdings Ltd., has announced the appointment of John Patin IV as its first Chief Investment Officer (CIO).
In the role, Patin assumes responsibility for overseeing Somers’ overall investment strategy and directing investment managers.
He brings two decades of experience managing investments for re/insurance companies to the company.
Most recently, he served as the Senior Investment Officer for Starr Insurance Companies and has held senior investment positions at Allied World Assurance Company, and Alterra Capital Holdings.
Liz Cunningham, Somers’ Chief Executive Officer (CEO), commented: “I’m pleased to welcome John as Somers’ first CIO. John’s demonstrated history of delivering results, combined with his creativity and thought leadership, will add strength and expertise to the Somers executive team.”
Maamoun Rajeh, CEO and Chairman of Arch’s Worldwide Reinsurance Group, added, “As Somers has matured, so has the sophistication required to manage our investment approach. The expertise and rigor John brings to the table are critical as we optimize Somers’ asset base, which now exceeds $3 billion. Establishing a comprehensive investment framework and working closely with our asset managers are important building blocks to the long-term success of the company.”
“I’m thrilled to join Somers at this stage of its development, and to partner with the executive management team to elevate the investment function at scale. I’m also keen to leverage the investing acumen of the shareholder group of Arch, Kelso, and Warburg Pincus – all of whom are well known to me and highly regarded as leaders in their respective industries,” said Patin.
