Paraline CEO Jack Graham Is Stepping Down
Paraline chief executive Jack Graham is set to step down from his role with the newly-launched Bermuda-domiliced insurance group in July
Mr. Graham, who has been CEO of the insurance firm since its launch in October, 2010, is also resigning from his post as CEO of underwriting subsidiary Icat Managers, acquired by Paraline following its unveiling.
Mr. Graham will be replaced by current chairman Bruce Schnitzer. Greg Butler, active underwriter of Paraline’s Syndicate 4242 at Lloyd’s, has been named as president of Icat.
But Mr. Graham will retain his place on the group board and intends to remain involved in “developing Paraline’s portfolio of insurance and reinsurance businesses”.
Commenting on the transition, Mr. Graham said: “This is a natural evolution of my role as founder of Icat and 13 years as its CEO. I am handing over day to day managerial responsibilities to an exceptionally talented team of people who have worked with me since Iact’s foundation and who have the full support of the Paraline board.
“We have built a unique Lloyd’s and international business with industry-leading risk management products and underwriting skills. I am particularly pleased that Greg Butler has accepted the role of president of Icat. This transition will enable me to focus on building Paraline’s profile as well as exploring strategic options for Elliott in the global insurance and reinsurance markets.”
