Legacy acquisition heavyweight Catalina has appointed Parri Spector director of M&A and reinsurance transactions.
In the newly created role, the Bermudian firm - which is backed by Apollo Global Management - said Spector will focus on developing Catalina’s business in the US.
He will be located in Catalina’s New York office and will work closely with the Catalina group M&A team.
Spector joins from SunTrust Robinson Humphrey, where he was managing director, investment banking and head of insurance M&A.
Prior to this, Parri worked for Keefe, Bruyette & Woods as managing director in the firm’s insurance investment banking group.
In his most recent role, Catalina said Parri worked closely the firm on a number of successful US transactions.
“Catalina has a well-established platform in the US successfully completing 10 transactions to date, employing 60 team members across four US offices and currently owning five regulated US insurance companies,” Mayur Patel, head of M&A and reinsurance transactions at Catalina said.
“We continue to see active deal flow in the US and with Parri’s insurance and transaction experience, we believe we will be able to accelerate the growth of Catalina’s US platform,” he added.
“Parri’s appointment signifies the importance of the US run-off market to Catalina’s continued success and we are very excited to have him join Catalina.”
Later this month, Apollo is expected to complete its buy-out of exiting Catalina shareholders and it, together with RenaissanceRe, will then be the two largest shareholders in the business.
Last month, re-Insurance.com revealed that the alternative investment firm had also launched a new Bermudian reinsurer, Acra Re, which will be used to fund (re)insurance trades which may include Catalina’s giant £1.6bn agreed deal to acquire the run-off of Zurich’s legacy UK employers’ liability book.