Szakmary resigns as CEO of Blue Capital; successor revealed

The chief executive and director of Blue Capital Reinsurance Holdings, which is owned by Endurance, has resigned with immediate effect.

Adam Szakmary served as the CEO and a member of the board of directors of Blue Capital since August 2015.

Following his resignation, the company has appointed Michael McGuire as new CEO, effective as of April 24.

McGuire will continue to serve in his current role as the chief financial officer of Endurance. He will not receive any compensation directly from the company for his services as CEO, according to a statement.

McGuire has had executive responsibility for Blue Capital Management and has been a director of the manager and chairman of the board for Blue Capital Reinsurance Holdings since August 2015. He has served as chief financial officer since January 2006 of Endurance Specialty Holdings, the owner of the manager and a wholly owned subsidiary of Sompo Holdings. Before that, he led Endurance’s external reporting, treasury and Sarbanes-Oxley compliance initiatives from 2003 through 2005.

Prior to joining Endurance, McGuire served in a broad range of public accounting in audit and advisory roles in the US, Bermuda and Europe, which included providing transaction accounting, structuring and due diligence services to private equity and strategic investors on mergers and acquisitions.

Meanwhile, the company has appointed John Del Col as a Class B director to replace Szakmary on its board. Del Col will serve until the 2018 Annual General Meeting of the company’s shareholders or until his earlier resignation or removal.

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