S.A.C. Re Announces Key Hires in Property Reinsurance, Finance and Risk Management

HAMILTON, Bermuda, Nov. 1, 2012 (GLOBE NEWSWIRE) -- S.A.C. Re, Ltd. (SAC Re) announced today that it has filled several key management posts in its property reinsurance, finance and risk management teams.

Kathleen Reardon has joined SAC Re as Chief Underwriting Officer – Property, and will be responsible for establishing the Company's property reinsurance business. Prior to joining SAC Re, Ms. Reardon was Chief Underwriting Officer International at ACE Tempest Re Bermuda for seven years, where she was responsible for the international property reinsurance business. Ms. Reardon, who began her career with ACE's predecessor CIGNA P&C, has over 18 years of (re)insurance industry experience and is a Fellow of the Casualty Actuarial Society.

Deepening the property reinsurance team, Tim Duffin has joined SAC Re as Senior Vice President, Underwriter – Property, reporting to Ms. Reardon. Mr. Duffin was most recently a property reinsurance underwriter for Platinum Underwriters Bermuda, Ltd, where he focused on U.S. property catastrophe reinsurance. Previously, Mr. Duffin was a reinsurance broker for Aon in London and Bermuda.

SAC Re's finance team has been enhanced with the addition of Vanessa Hardy Pickering, who has joined as Group Controller, reporting to the Company's Chief Financial Officer. Prior to joining SAC Re, Ms. Hardy Pickering was Senior Vice President, Controller for Ariel Re Bermuda Ltd. (a subsidiary of Goldman Sachs) since April, 2012 and Ariel Reinsurance Company Ltd. for the previous six years. Completing the recent key hires, Susan Smith joined SAC Re on October 1 as Senior Risk Analyst, reporting to the Company's Head of Risk and Analytics. Ms. Smith was previously a Senior Risk Analyst at Montpelier Reinsurance Holdings Ltd.

SAC Re Chief Executive Officer, Simon Burton, said: "We are delighted to have Kathleen on board to lead our property reinsurance team going into the January renewal season. Her strong analytical background and deep market knowledge will be instrumental in building our property reinsurance business. In addition, we could not be more pleased with the calibre of candidates seeking to join our team at all levels. Tim, Vanessa and Susan each have deep experience in their roles and are terrific additions to the team."

S.A.C. Re, Ltd. is a Bermuda-based Class 4 reinsurer and is rated "A-" (Excellent) with a stable outlook by A.M. Best Company, Inc. Additional information can be found at www.sac-re.com.

CONTACT: Media Contact: Elizabeth Tee Troncossi Public Relations Telephone: 441 292 5838 E-mail: liz@troncossi.bmSource:S.A.C. Re, Ltd.