Flagstone Reinsurance Holdings has appointed Miguel Barrales as chief executive officer of Flagstone Underwriters Latin America Limited.

Mr. Barrales joins Flagstone from Swiss Re where he was vice president, client management for P & C and L & H Reinsurance business covering global companies in Latin America and the Spanish speaking Caribbean.

Flagstone has also announced the hiring of Edward Herrera as senior underwriter for the Puerto Rico office. He joins Flagstone from Everest Re where he was Property Treaty Underwriting Manager for the Latin American Region. Prior to joining Everest Re, Mr. Herrera was a Property Treaty Underwriter for Le Mans Re, covering the Central America and Panama region.

Rafael Saer, who previously occupied the CEO role, will be leaving the company in January to pursue other interests.

David Brown, CEO of Flagstone Re, said: "We are pleased to have Miguel and Edward join us. The high calibre of these two industry professionals reinforces our long term commitment to Puerto Rico and to the Latin American and Caribbean markets."