John Morrey has retired as CEO of Stonefort Group having built the formerly named Luxembourg captive Builders Re into a diversified insurance, reinsurance and independent captive management business during his 21 years at the company.
Builders Re was originally formed as reinsurance captive for German construction giant Hochtief in 2000, but wrote third party business from day one and, largely driven Morrey, only grew over the next 23 years.
Builders Re and Builders Insurance, the group’s Luxembourg-domiciled direct writing insurer, were rebranded to Stonefort in September 2022, along with its independent captive management arm.
Morrey, with colleagues Koenraad Everaert, chief insurance officer, and head of marketing Bertrand Gilson, explained the background of Stonefort and its focus today in a GCP Short recorded at the European Captive Forum in November 2022.
In a post on LinkedIn, Morrey said it was “with a mixture of anticipation and some sadness” that he was announcing his retirement.
“It has been an amazing journey, from a cardboard box of files in 2002 to an AM Best “A-” rated, thriving organisation of more than 50 people operating out of our premises in Steinfort (Luxembourg), London and Düsseldorf,” he added.
“I look back at this significant period in my career with immense pride at the hurdles overcome and the many important achievements contributing to the highly successful organisation we see today.
“I would like to extend my heartfelt thanks and appreciation to all my colleagues, past and present, for all their hard work, professionalism, commitment and support over the years.”
Morrey is succeeded by Michael Dehm as CEO of Stonefort Group.