The Bermuda Class E insurance company, Oceanview Reinsurance Ltd., has appointed Timothy Gasaatura chief actuary, succeeding Ahwaz Chagani, who has been promoted to chief financial officer of Oceanview Re.

Both Mr Gasaatura and Mr Chagani are based in Hamilton, Bermuda.

Mr Gasaatura will be responsible for leading the actuarial team, including pricing and regulatory reporting functions for both Oceanview Re and its subsidiary Oceanview Bermuda Reinsurance Ltd.

Mr Chagani will lead the finance team for both entities.

Andrew Kanelos, executive chairman and chief governance officer of Oceanview Re commented: “We’re delighted to welcome Tim to Oceanview Re. Tim has a great combination of actuarial risk, modelling, and pricing expertise along with years of experience with the Bermuda Economic Balance Sheet regime. Tim’s wealth of knowledge and deep expertise will be invaluable to Oceanview Re.”

Mr Kanelos continued: “I’d also like to congratulate Ahwaz on his well-deserved promotion. Since joining us in 2021, Ahwaz has been a consistently outstanding contributor. We’re excited to have him take on new responsibilities as CFO and leader of our finance team.”

Prior to joining Oceanview Re, Mr Gasaatura was the Corbridge chief risk officer for Life & Retirement Strategy and Institutional Markets and was responsible for providing end-to-end risk oversight, including the independent assessment of actuarial methodology, models, assumptions and transactions.

Before joining Corebridge, Mr Gasaatura was the chief actuary at Langhorne Reinsurance (Bermuda) Ltd. He previously held various risk roles in Bermuda including Fortitude Re chief risk officer / AIG Bermuda & Latin America risk officer and senior actuary / risk officer at TransAmerica.

Prior to his time in Bermuda, Mr Gasaatura held various actuarial consulting and corporate roles within the insurance industry in the United States.

Meanwhile, prior to joining Oceanview Re in 2021, Mr Chagani was the head of Group Actuarial and Risk, and approved actuary, for the Argus Group, where he oversaw actuarial valuation, capital reporting, aspects of risk management and IFRS 17 implementation, and was instrumental in the design and roll-out of their new risk management framework.

Previously, he was the head of Corporate Actuarial and approved actuary for AIA Reinsurance Ltd., where he was responsible for several aspects of actuarial and risk functions.

Earlier in his career, Mr Chagani was a consulting actuary with the Dion Strategic Consulting Group and held various actuarial roles at Manulife Financial.