Troubled guaranty insurer Syncora Holdings, Ltd., with shareholder approval has named four new members to its board of directors.
The four are Duncan P. Hennes, Edward J. Muhl, Thomas S. Norsworthy, and Robert J. White. All are independent directors.
Mr. Hennes and Mr. Muhl will also be members of the finance and risk oversight committee. Mr. Norsworthy is a member of the compensation committee. Mr. White is a member of the audit committee.
Mr. Hennes, 52, is a co-founder and partner of Atevida Partners, an alternative asset manager.
Mr. Muhl, 63, is currently the owner and chief executive of an insurance, reinsurance and legislative consulting firm.
Mr. Norsworthy, 55, was most recently the chief executive officer of Trenwick America Reinsurance Corporation and The Insurance Corporation of New York, a property-casualty reinsurer and insurer, respectively, currently in run-off.
Mr. White, 61, is a reorganization and restructuring attorney with over 35 years of experience recently completing his appointment as receiver in charge of the Cosmopolitan Resort and Casino in Las Vegas.
Syncora has said that due to the financial pressures that credit default obligations have placed on the company, it may not survive as a going concern.
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