Outgoing president will retain an advisory role

Folks Re Solutions has appointed a new president to succeed John Liberator.

The company, a part of White Mountains Re and a specialist in the acquisition of run-off insurance and reinsurance companies, will be headed by Neal Wasserman, currently senior vice president.

A statement from the company, also known as Folkamerica Re, said John Liberator is leaving to pursue personal interests, but will retain an advisory role.

Wasserman has more than a decade of experience in the run-off arena and, before helping Liberator form Folks Re Solutions in 2000, he held various senior finance and claim positions with Travelers Property Casualty Corporation.

Allan Waters, president and CEO of Bermuda-based White Mountains Re, said: "John has done an excellent job in finding and closing the right acquisition opportunities and building an outstanding business. He and his team have worked together since the early 1990s. Neal has benefited from John's guidance and leadership which makes him uniquely qualified to assume this position and contribute to the continuing success of this company. We are pleased that John has agreed to stay on in an advisory capacity which will help smooth the transition."