Peter A. Appel

Peter A. Appel (born 1962)[1] is an American entrepreneur and business executive. Appel, a Founder and former President and Chief Executive Officer of Arch Capital Group Ltd.,[2][3][4] is currently the Founding Partner, Chairman and Chief Executive Officer of Aeolus Capital Management LLC.[5]

Career

In 2011, Peter Appel formed Aeolus Capital Management to manage capital on behalf of investors seeking exposure to the property catastrophe reinsurance and retrocession markets.[6] The company raised and deployed over $1.2 billion of capital in its first year as an asset manager.[7] A sale of Aeolus Capital to Paul E. Singer's Elliott Management was announced in November 2016. Elliott has been a long-time investor in Aeolus Capital Management. In July 2006, Appel and David Eklund founded Aeolus Re, a Bermuda-based property catastrophe reinsurance company whose initial investors included Warburg Pincus and Bank of America Merrill Lynch.[8][9][10] Prior to transforming Aeolus into an asset management company in 2011,[11] Appel served as Chairman and CEO of Aeolus Ltd.,[12][13] the parent company of Aeolus Re, which became a global leader in providing collateralized property catastrophe reinsurance protection and the largest provider of property catastrophe retrocessional protection in the world. Since its inception, Aeolus Re deployed over $10 billion in the reinsurance and retrocessional markets.[14]

Before founding Aeolus Re, Appel was a founder of Arch Capital Group Ltd., a publicly traded global insurance and reinsurance company (NASDAQ: ACGL).[15] He served as its President and CEO from May 2000 through July 2003.[16] During this period, he oversaw Arch Capital's transformation into a worldwide property and casualty insurance and reinsurance company[17] before he was succeeded by Constantine "Dinos" Iordanou.[18][19][20] Appel remained on Arch Capital's Board of Directors through May 2006.[21]

Appel was also the lead investor in the acquisition and recapitalization of Tri-City Brokerage LLC, one of the largest independent wholesale insurance brokerage firms in the United States, prior to its sale to Bisys in March 2003.[22]

Prior to his career as an entrepreneur and business executive in the insurance and reinsurance industry, Appel was a partner at Willkie Farr & Gallagher,[23] where he practiced corporate law from 1987 to 1995.[24]

Education

Appel graduated from Colgate University in 1984 and Harvard Law School in 1987.[25]

Personal

Appel resides in Bedford, New York [26]

References

  1. ↑ “Rising Stars: Peter A. Appel”, “Business Insurance”, October 7, 2002.
  2. ↑ “Arch Capital Bermuda Sub Fully Funded”, “Insurance Journal”, November 21, 2001.
  3. ↑ “Arch Capital Group Names Iordanou President and CEO”, “Insurance Journal”, July 15, 2003.
  4. ↑ “Arch Capital Group Ltd. Names Constantine Iordanou President and Chief Executive Officer”, “Business Wire”, July 14, 2003.
  5. ↑ “Aeolus Hits $1.2 billion Under New Structure”, “Trading Risk”, February 16, 2012.
  6. ↑ “Aeolus Raises $500 Million for Mid-Year Renewals”, “The Insurance Insider”, June 13, 2011.
  7. ↑ “Aeolus Hits $1.2 Billion Under New Structure”, “Trading Risk”, February 16, 2012.
  8. ↑ “Aeolus Tops $1 Billion Capital”, “The Royal Gazette Online”, January 5, 2007.
  9. ↑ “Warburg, Merrill Pump Up Aeolus’s Coffers”, “FIN Alternatives”, January 5, 2007.
  10. ↑ “Aeolus Re Expands Capital to $1 Billion”, “The Insurance Insider”, January 5, 2007.
  11. ↑ “Aeolus in Fundraising Drive as Restructure Takes Place”, “Trading Risk”, April 8, 2011.
  12. ↑ “New Bermuda CAT Reinsurer Formed”, “P&C National Underwriter”, July 26, 2006.
  13. ↑ “Aeolus Re Announces Entry into Global Reinsurance Market with $500 Million Equity Commitment from Group Led by Warburg Pincus”, “PR Newswire”, July 26, 2006.
  14. ↑ “Aeolus in Fundraising Drive as Restructure Takes Place”, “Trading Risk”, April 8, 2011.
  15. ↑ “Arch Capital Group Ltd. Website.”
  16. ↑ “Risk Capital Holdings, Inc. Closes Sale of Reinsurance Operations and Changes Name to Arch Capital Group Ltd.; Peter A. Appel Becomes President and CEO”, “Business Wire”, May 5, 2000.
  17. ↑ “Rising Stars: Peter A. Appel”, “Business Insurance”, October 7, 2002.
  18. ↑ “Arch Capital Group Names Iordanou President and CEO”, “Insurance Journal”, July 15, 2003.
  19. ↑ “Dinos Iordanou Takes Over from Peter Appel at Arch”, “Insurance Finance & Investment”, July 21, 2003.
  20. ↑ “Arch Capital Group Ltd. Names Constantine Iordanou President and Chief Executive Officer”, “Business Wire”, July 14, 2003.
  21. ↑ “Arch Capital Group Ltd. DEF 14-A”, Filed April 1, 2008.
  22. ↑ “BISYS Purchases San Francisco’s Tri-City Brokerage”, “Insurance Journal”, March 17, 2003.
  23. ↑ “Rising Stars: Peter A. Appel”, “Business Insurance”, October 7, 2002.
  24. ↑ Crombie, Roger. “Golden Arches”, “Bermudian Business”, Summer 2001.
  25. ↑ “Rising Stars: Peter A. Appel”, “Business Insurance”, October 7, 2002.
  26. ↑ “Buildings: Homes–Celebrity–Business”, “Virtual Globetrotting”, October 20, 2009.
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