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Quanta?s US insurance chief quits

(Bloomberg) ? Quanta Capital Holdings Ltd., a Bermuda-based insurer formed last year, said Robert M. Fishman left the company after running its US insurance business for less than two months.

Fishman left for personal reasons, Quanta said in a statement on its Web site. Deirdre Littlefield, who ran Quanta?s marina, aviation and technical risk business, will replace him, Quanta said.

Quanta, founded in Bermuda in September with $506 million of capital, primarily sells reinsurance to other insurers. Fishman was hired to oversee 75 employees selling policies for liabilities such as environmental damage and shareholder lawsuits. He previously was chief US underwriting officer for Zurich Financial Services AG.

?It?s an incredible opportunity to do things right,? Fishman said in a July interview about his reasons for joining Quanta.

Fishman didn?t immediately return voice-mail messages on his office and mobile phones. Quanta Chief Executive Officer Tobey Russ didn?t return a voice-mail message.

Quanta had $27.2 million of premium revenue in the first quarter, compared with $2.5 billion at Zurich?s North American commercial insurance unit.

Quanta yesterday announced that its subsidiary, Quanta Europe Ltd., has received approval from the Irish Financial Services Regulatory Authority to write insurance business through its European headquarters in Dublin, Ireland.

Quanta Europe Limited will write a range of specialty insurance products throughout Europe. Quanta Europe Limited will immediately focus on its specialty environmental insurance products followed by other lines of business, such as professional liability, the company said in a press statement.