The co-founder and former chairman of Bermuda-based reinsurer Flagstone Re has passed away.
Mark Byrne, 55, died last Thursday in Montreal. He was originally from County Wexford, Ireland and was a qualified jet pilot.
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Byrne was the executive chairman of Flagstone Reinsurance Holdings until he stepped down in 2010 around the time the company completed a redomicile from Bermuda to Luxembourg.
He co-founded Flagstone in 2005 with David Brown. After stepping down as executive chairman, Byrne remained a member of the board for a number of years.
“Mark and David founded Flagstone together as partners and as the company has reached a certain level of maturity,” Flagstone governance committee chairman Steve Coley said at that time. “Mark recommended and the board agreed that the executive leadership of only one of the founding partners is required to take the business forward.”
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In 2012, Flagstone Re was acquired by Validus Holdings.
Byrne served as chairman of Haverford; a holding company for insurance interests both in Bermuda and internationally.
He is survived by his wife Rebecca, four children – Sophie, Jacqueline, Matthew and Christopher – his mother Dorothy, and brothers John and Patrick, Royal Gazette reported.
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