Chris McKeown, the founder of Bermuda reinsurers CIG Reinsurance Ltd. and New Castle Reinsurance Co., has been named chief executive officer of global analytical and specialty practices.

Mr. McKeown had been serving as president and CEO of CIG Re, which he founded in 2004, and New Castle Re, which he established in 2005. Before joining CIG Re in 2004, he held several executive positions with Ace Tempest Reinsurance Ltd. from 1998 to 2002, lastly as president and CEO.

CIG Re has stopped writing business. Torus Insurance Ltd.'s specialty reinsurance company, Torus Re, took on the renewal rights for New Castle Re's business.

New Castle Re was placed into run-off effective January 16, 2009.

Mr. McKeown will be responsible for Guy Carpenter's Instrat modeling and actuarial group, the company's line of business specialties and the rating agency, enterprise risk management advisory and business intelligence units.

He will also be responsible for managing Guy Carpenter's relationships with several key reinsurance markets, the company said in a statement.

Mr. McKeown will report to Peter Zaffino, president and CEO of Guy Carpenter & Co., and will join the company's executive committee.

Following the dislocation in the reinsurance markets after hurricanes Katrina, Wilma and Rita in 2005, New Castle Re was originally set up a Bermuda-based property catastrophe reinsurer. New Castle Re provided property-per-risk, workers' compensation catastrophe, multiperil crop and terrorism in addition to its core property catastrophe line of business.

Citadel Wellington LLC and Citadel Kensington Global Strategies Fund Ltd., two private investment funds affiliated with hedge fund Citadel Investment Group LLC, were the original investors in New Castle Re, according to the AMB Credit Report.

Reinsurance broker Guy Carpenter, the second-largest reinsurance broker according to Best's Review's annual ranking, is a unit of Marsh Inc.