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Hamilton Insurance Names Sandy Weill as Chairman
By Ben Fox Rubin
Hamilton Insurance Group Ltd. named Sanford I. "Sandy" Weill, the former Citigroup Inc. chief executive, as its new chairman.
Hamilton Insurance is the holding company for Bermuda-based property and casualty reinsurer Hamilton Re. SAC Capital Advisors LP last month agreed to sell its reinsurance business to a group of investors led by insurance-industry veteran Brian Duperreault. The unit was renamed Hamilton Re and Mr. Duperreault became chief executive of the new company.
Mr. Weill built Citigroup through repeated acquisitions--including a 1998 megadeal that prompted Congress to strike down a six-decade-old ban on commercial banks doing investment banking, and vice versa. He surrendered his chief executive post in 2003 to Charles Prince and retired as Citigroup chairman in 2006.
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(END) Dow Jones Newswires 01-10-141027ET Copyright (c) 2014 Dow Jones & Company, Inc.