People Moves: Fairfax Insurance Names Young as President, Barnard as Chair; Acrisure Appoints Industry Veteran Reith as Exec Chair of MGA Unit Volante
This edition of International People Moves details at Fairfax Insurance Group and Acrisure’s Volante.
A summary of these new hires follows here.
Fairfax Insurance Group Names Young as President, Barnard as Chair
Fairfax Financial Holdings Ltd. announced that Brian Young became president of Fairfax Insurance Group, succeeding Andrew Barnard who has stepped into the role of chairman of Fairfax Insurance. Both appointments were effective on Jan. 1, 2025.
Young joined Fairfax subsidiary Odyssey Group in 1996 and has served as its chief executive officer since 2011. Fairfax said that Odyssey has thrived under Young’s leadership, generating an underwriting profit for 13 consecutive years and nearly tripling in size during his tenure.
Effective Jan. 1, Carl Overy succeeded Young as Odyssey’s CEO, leading its three operating platforms: OdysseyRe, Hudson, and Newline. Overy has served as CEO of OdysseyRe since April 2023 and previously served as CEO of Newline and the London branch of OdysseyRe for 15 years.
“Brian and Andy have worked together for nearly 35 years, the last 28 at Fairfax. Our expansive global re/insurance operations will benefit greatly from their collective oversight,” commented Prem Watsa, chairman and CEO of Fairfax. “Carl is a proven leader who has devoted more than two decades of his life to Odyssey. We have no doubt that Odyssey will scale new heights under his leadership in the years to come.”
Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property/casualty insurance and reinsurance and associated investment management.
Acrisure Names Industry Veteran Reith as Executive Chairman of MGA Unit Volante
Acrisure, the Grand Rapids, Mich.-based global insurance broker, announced the appointment of Martin Reith as executive chairman of Volante, a Lloyd’s business with extensive MGA operations.
Based in London, Reith will work with senior leadership across several areas of the business. Reith will report to Matt Schweinzger and Grahame Millwater, Acrisure’s executives whose responsibilities include Acrisure Re, its London-based and international businesses, as well as all global MGAs and programs. The appointment is effective immediately.
At Volante, Reith will work closely with the CEO Talbir Bains and the executive team. Alongside his role as executive chairman of Volante, Reith also will be advising Ben Canagaretna, managing director of Acrisure Re Corporate Advisory and Solutions (ARCAS).
In addition, Reith will review and advise on Acrisure’s interest in accessing third-party capital to take advantage of the significant number of opportunities ahead.
Reith has extensive experience in the re/insurance industry, bringing approximately 40 years of industry experience to Acrisure. He has held leadership roles in underwriting, distribution and alternative capital. He was CEO of Marketform (later rebranded as Neon). Most recently he was CEO at Helios Underwriting PLC, and was the founder and CEO of Ascot Underwriting in 2001. He has also held several advisory roles in a non-executive director capacity at various companies within and outside of the re/insurance market.