Converge RE II appoints new CEO for US operations

Converge RE II appoints new CEO for US operations | Insurance Business Australia

Reinsurance

Converge RE II appoints new CEO for US operations

He will start his new position on May 1

Reinsurance

By
Kenneth Araullo

Lightstone and Converge RE II have jointly announced the appointment of Craig Buck (pictured above) as the new CEO of Converge US, effective May 1, 2024.

Buck brings over 30 years of experience in the insurance industry to his new role, where he will focus on achieving growth objectives and managing daily operations for Converge.

Prior to his appointment, Buck was the managing principal of the insurance and actuarial advisory services practice at Ernst & Young LLP’s Financial Services Organization.

His career also includes leadership roles at a major international insurance and retirement company, as well as positions as the Americas Life Insurance practice leader and the North American actuarial practice leader at Towers Watson and Watson Wyatt Insurance & Financial Services, respectively.

He is also a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.

Mitchell Hochberg, chairman of the board of directors of Converge RE, expressed confidence in Buck’s ability to drive the company forward.

“We believe that Craig’s vast industry experience will be instrumental in guiding the continued growth of Converge,” Hochberg said. “We welcome Craig to the team, and look forward to his leadership and continued success.”

Buck also shared his enthusiasm about his new position as the leader of Converge’s US operations.

“I am thrilled to join the Converge team,” he said. “This is an exciting opportunity to continue to expand the company’s growth and fully realize its potential in the life and annuity reinsurance space. I look forward to getting to work.”

Converge RE II, headquartered in Puerto Rico, operates as an A-rated Class 5 reinsurer through the International Insurance Center (IIC). The company specializes in providing reinsurance solutions to life and annuity insurers that aim to enhance financial efficiency and reallocate capital. Currently, Converge RE II manages assets exceeding $1.5 billion.

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