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Ariel Opens New Branch Office In Zurich

For writing of credit and surety reinsurance starting from the 2010 renewal season

Ariel Reinsurance Company (Ariel Re), a subsidiary of Ariel Holdings, has opened a branch office in Zurich, Switzerland, to engage in the writing of credit and surety reinsurance starting from the 2010 renewal season.

Ariel Reinsurance Hamilton (Bermuda), Zurich Branch, located in Zurich’s main insurance district, is led by Thomas Rothenberger, senior executive and branch manager. He will report to Tom Hulst, President of Ariel Re.

Michael Hammer, head of underwriting and Alban Fauchere, responsible for directing risk and analytics joined Mr. Rothenberger at new branch office. All three joined Ariel Re from Swiss Re together with a team of specialists and technicians.

Don Kramer, chairman and CEO of Ariel Holdings, said: “Adding this highly experienced Swiss team to our group extends our program of diversification and growth. The target lines of business are in a hardening specialty market that developed following a difficult period due to the global economic crisis.”

Mr. Rothenberger said: “Ariel Re’s strong capital position, sophistication and risk culture provide us with an excellent base for us to serve our global clientele. We are excited to bring new capacity to our markets and are pleased to be a part of such a high quality reinsurance operation.”