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17th of May 2012

Kane CEO departs

Matthew Broomfield 29/11/2011

Kane’s CEO Stephen May has left the company. Captive Review believes that Simon Hinshelwood will be appointed the new CEO, subject to board approval.

No such appointment has been announced so far, however.

“The board is in agreement that at this stage in the growth of Kane a new chief executive officer is required to take the company forward and the announcement of a replacement will be issued shortly,” said a statement issued by the independent captive manager.

Hinshelwood describes himself on his LinkedIn profile summary as: “Strategically-focused senior business leader with a proven track record in turnaround, change management, financial and operational restructuring. Significant experience working with private equity owners and overseas corporate parents, being appointed as chairman or CEO.”

In March Kane signed an agreement to acquire HSBC’s insurance management operations, making it the fourth largest global insurance manager. Kane acquired HSBC Insurance Holdings (Bermuda), HSBC Insurance SPC, the insurance management business and assets of HSBC Bank (Cayman), and HSBC Insurance Agency (USA) for a total amount of US$27.5m. The acquisition was backed by private equity firm CBPE Capital.

The decision to replace Stephen May is backed by Kane’s equity sponsors CBPE, added the statement.

Tags: CEO, Kane Group

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Bubba 11/12/2011 2:26am

Aritlces like this make life so much simpler.

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