Lockton Re hires former Validus Re exec as North America chairman

Lockton Re LLC, the reinsurance business of Lockton Cos. LLC, said Thursday it named former Validus Re Ltd. executive Jim Franson as North America chairman.

The role was created due to growth in the business, Nick Durant, CEO, North America at Lockton Re, said in a statement.

Mr. Franson was most recently president at Validus Re US. Prior to that, he was chief underwriting officer at Arch Reinsurance Co.