StarStone has selected former Validus executive John Hendrickson as its new group CEO.
He takes the reins of the global specialty carrier from Demian Smith, who resigned from the top job in September 2018 following eight years of service.
Hendrickson recently served as director of strategy, risk management and corporate development at Validus and was a member of the Validus Holdings public company board of directors until its $5.6bn acquisition by AIG in July.
Prior to that, Hendrickson was the founder and managing partner of SFRi LLC, an independent investment and advisory firm specialising in the insurance industry.
During his career, he has also held various positions at Swiss Re including: head of Capital Partners, Swiss Re’s Merchant Banking Division, managing partner of Securitas Capital and a member of the executive board.
Enstar CEO Dominic Silvester said: “In John, Enstar and Stone Point Capital have identified a proven industry veteran who provides immediate strong leadership and strategic direction to StarStone.
“StarStone remains a key part of the Enstar Group, and we are confident in John’s ability to optimise the business moving forward as a distinguished, multi-platform specialty insurer.”
Hendrickson added: “StarStone is at a pivotal point in its development, and I look forward to working with the team here to unlock the potential that exists for StarStone and our clients.
“Despite prevailing pricing, geopolitical and regulatory challenges, StarStone has good fundamentals and opportunities for profitable growth, and we will look to further solidify and advance our global offering while positioning the business for the future.”