Bermudian-based Catalina Holdings Ltd has appointed Andrew Diaz-Matos as chief commercial officer and chief legal officer reporting to group chief executive officer Ian Parker.

Catalina, an industry leader in the insurance legacy retrospective space, said Mr Diaz-Matos is taking over the chief commercial officer role from Steve Ryland, who has moved internally to head global distribution.

Mr Diaz-Matos will lead operational management of the insurance subsidiaries.

As chief legal officer, he succeeds Keith Lyon, Catalina’s general counsel who will be retiring later in the year.

Mr Diaz-Matos joins from CapSpecialty, where he was senior vice-president, general counsel and corporate secretary. He also oversaw the claims, HR, and IT functions for the Alleghany-owned specialty insurance company.

Prior to CapSpecialty, he held legal roles of increasing responsibility at The Hartford, Catalina said, with a particular focus on operations, transactions, strategy, and corporate governance.

Mr Diaz-Matos began his legal career in the mergers & acquisitions practice of White & Case in New York.

He has nearly a quarter century’s legal experience, including the past 16 in the financial services/insurance industry, and has completed live and runoff insurance transactions involving more than $300 billion in assets and liabilities, Catalina said.

Mr Diaz-Matos said: “I am thrilled to be joining Catalina at this juncture in its development. I have admired Catalina for many years, including from the 2017 sale of The Hartford’s UK P&C runoff business to Catalina.

“I look forward to working with the insurance companies’ CEOs in managing liabilities and improving operational efficiency and to building out a world-class legal organisation, all in support of Catalina’s profitable growth.”

Mr Parker said: “I am delighted Andrew is joining Catalina at such an exciting time. In my experience it is rare to find a lawyer that can lead both a legal team and a commercial one.

“Andrew’s extensive experience managing outside the legal function will be incredibly valuable and I have absolute confidence that he is exactly what Catalina needs.”