Acacia appoints Lawrence Cheng
Acacia Holdings Ltd, the Bermudian-based specialist reinsurance and retrocession investment company, has appointed Lawrence Cheng to its executive leadership team in the role of chief underwriting officer.
Mr Cheng served as managing director and head of property & casualty at Peak Re, where he was also a founding member of its leadership team.
He led the firm’s successful development of third-party capital vehicles and served as co-CEO of Peak Capital, a Bermuda-based ILS asset manager, Acacia said.
A qualified actuary, Mr Cheng started his career at Markel Liberty in London before moving to Aon to set up and oversee their actuarial practice in China.
Acacia said Mr Cheng has an impressive track record in underwriting and reinsurance, with proven success in managing a business from start-up into a leading reinsurance company.
Charlie Fry, CEO of Acacia, said: “Lawrence Cheng is a highly regarded and respected insurance industry executive.
“His excellent track-record as an underwriter and his extensive analytical experience will enhance the value that Acacia provides to its investors, re/insurers and distribution partners.
“We are delighted to have him on board.”
Mr Cheng said: “I am very pleased to be joining the Acacia team at this stage of the company’s development.
“I am really impressed with their vision to create long-term value through offering an exceptional experience to our clients.
“Acacia is on an exciting journey and has outstanding support from its trading partners. I look forward to contributing to the company’s success.”
Acacia is backed by Oaktree Capital Management LP, a global investment manager specialising in alternative investments, with $153 billion in assets under management as of March 31.
Acacia said it utilises its own balance sheet alongside third-party capital to invest in the reinsurance and retrocessional markets, providing tailor-made solutions to meet the specific requirements of its investors and trading partners.