Cayman Islands-based Blue Ocean Re has hired Nico Kleine Punte to oversee the group’s accounting operations, in addition to appointing Derek Shanahan as senior vice president and account executive, and Nancy Manyange as reinsurance accountant.
The company said these hires are an integral part of the Blue Ocean Re’s ongoing strategy for staffing in its growth areas.
Blue Ocean Re was formed earlier this year and provides reinsurers and larger complex captives in Cayman with tailored solutions, guidance, and strategies to help optimise their risk management.
Punte has over a decade of experience navigating the Caribbean insurance and reinsurance market.
Having held senior positions at PwC, Island Heritage, and BF&M Group, he has a strong understanding of reporting requirements across multiple jurisdictions.
“Nico’s expertise in financial reporting and his extensive industry experience will be pivotal in supporting our next phase of growth,” said Graham Mackay, president and CFO at Blue Ocean Re.
“His insights will strengthen our operations and bolster our ability to meet the needs of our clients especially as those Clients look to different accounting bases and treatment to echo their diverse and increasingly complex requirement.”
Shanahan will be focusing on the firm’s (re)insurance management portfolio and has over 15 years of experience in insurance and risk management, previously holding senior roles at Aon and ENI.
Manyange will support the reinsurance accounting and compliance function of the firm.
“We are excited to welcome Derek, Nancy, and Nico to our growing team,” said Adrian Lynch, CEO of Blue Ocean Re.
Their industry knowledge and unique skill sets are essential as we continue to attract and retain key talent whilst expanding our service offerings within the reinsurance and complex captive (re)insurance sectors.”
Lynch previously told Captive Intelligence that there was a gap in the Cayman Islands insurance market for Blue Ocean Reinsurance Group.