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CEO To Take New Role At Reinsurer

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Paul Goldean will be getting a new title at Scottish Re Group Ltd.

Scottish Re, Hamilton, Bermuda, says Goldean, who has been the struggling life reinsurance company’s chief executive officer, will become the company’s chief administrative officer.

Scottish Re will hire a new CEO, and Goldean will be responsible for corporate development, investor relations and legal matters, the company says.

Scottish Re recently completed the process of obtaining a $600 million investment from a team made up of a unit of Massachusetts Mutual Life Insurance Company, Springfield, Mass., and affiliates of Cerberus Capital Management L.P., New York, a private equity firm that recently announced plans to acquire Chrysler.

The company also has announced that Dean Miller is stepping down from the post of chief financial officer, and Clifford Wagner will give up his position as chief executive of Scottish Re’s North American unit.