Graham C. Pewter, former president and chief executive officer of Commercial Risk Partners Limited, has been appointed as president and chief executive of Catlin Insurance Company Ltd (CICL) in Bermuda.

In his new role at Catlin, Graham Pewter will have overall responsibility for the development of CICL, which has capital in excess of $450 million and which began underwriting late last year. CICL will develop a portfolio of both traditional property/casualty and alternative risk transfer (ART) products. He reports to Stephen Catlin, founder of the Catlin Group and chairman of CICL.

Stephen Catlin said: "I am delighted to welcome Graham to CICL and am eager to begin working with him. With his years of experience in the Bermuda market and his extensive knowledge of both traditional insurance and alternative risk management products, he is the ideal person to lead CICL and oversee its growth."

Mr. Pewter, aged 49, resigned from the helm of Commercial Risk Partners Limited in January after its parent company, the French insurer SCOR, declared that CRP was "non-strategic" and up for sale.

Industry sources observed that Mr. Pewter, with more than 20 years of experience in the Bermuda insurance market, was well regarded despite the last years losses at CRP.

SCOR's decision concerning CRP came after a long review process. The company has reduced overall exposure to US-based business and some analysts have speculated that the company wants to get back to its French roots.

Commenting on his new appointment, Graham Pewter said:

"I am joining the Catlin Group at a very exciting time, both in the development of the organisation and in terms of the opportunities in the non life insurance market. I am looking forward to working with all the members of the Catlin team to build CICL into an important player in the Bermuda insurance marketplace."

Prior to joining CRP, Mr. Pewter served as president and managing director of LCF Edmond de Rothschild Insurance Services Limited, an insurance brokerage and consultant, from 1988-1992; vice president and general manager of Cologne Reinsurance Company (Bermuda) Limited from 1983-1988; and in managerial and underwriting positions with other Bermuda based insurers.