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Imagine recruits Morrison as CEO

Bermuda-based Imagine Group Holdings Limited said yesterday that it has recruited Gregory E.A. Morrison to be its president and chief executive officer, ending a ten-month search begun when former CEO Brad Huntington quit the company last summer.

Mr. Morrison, who was formerly chief executive of Bermuda insurer Platinum Underwriters Holdings Ltd. and most recently a vice-chairman, is to join Imagine once immigration approval is in hand.

Chairman George Gleadall said, in a statement: ?Greg is a recognised insurance industry leader with extensive underwriting and management experience in our core markets of property, casualty and life insurance and reinsurance.?

Mr. Huntington, a founder of reinsurer Imagine Group Holdings Limited, said last July he was stepping down after a months-long dispute with the company?s major investor, Toronto-based asset management firm Brookfield Asset Management. He said the dispute was purely contractual in nature, Imagine last year received subpoenas for information, as did numerous other insurers, as part of a broad regulatory probe underway in the US. Mr. Huntington?s resignation left Imagine, a company formed as a finite risk reinsurer in late 2000, down a CEO for the second time in its short history. Thomas Gleeson, who co-founded Imagine and was joint CEO with Mr. Huntington, parted ways with the company in March 2003 after he also fell into dispute with Brookfield, then named Brascan Corp.