Catalina Holdings (Bermuda), a legacy insurance acquisition company, has named Steve Ryland as the new CEO of UK operations.

Ryland has over three decades of experience in insurance and reinsurance industry. Prior to joining Catalina UK, he worked with Armour as a member of the executive management committee.

Ryland is said to have played a key role  in developing the company’s business from its launch.

Before Armour, Ryland served as an executive director with PRO Insurance Solutions, the erstwhile service company of Swiss Re.

Ryland appointment will be effective from January 2020. In his new role, he will manage the company’s UK operations, boost operational efficiencies and identify and execute on market consolidation opportunities.

Catalina Holdings CEO Chris Fagan said: “We’re delighted to welcome Steve to the business. He is an industry heavyweight that we have long admired and he brings with him a wealth of experience that will be invaluable as we continue to execute on our strategy.

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“He joins the business at a very exciting time, following the completion of our largest ever transaction in the UK and a successful fundraise that provides us with the financial firepower to execute on a wide range of market opportunities.”

Ryland appointment is subject to regulatory approval.

Earlier, Catalina Holdings wrapped up a $2bn a portfolio of UK employers’ liability policies from Zurich Insurance.

Catalina purchases and manages non-life insurance and reinsurance firm and portfolios in run-off.