Arch Capital Group Ltd has appointed Christine Todd as chief investment officer.

The appointment is effective June 7, subject to regulatory approval.

The Bermudian-based company said Ms Todd will report to Marc Grandisson, CEO of Arch Capital, and will have responsibility for setting the firm’s investment strategy and managing the day-to-day operations of the investment portfolio.

Arch said she succeeds W. Preston Hutchings, who is retiring from Arch later this year, but will stay with the company as a senior adviser assisting Mr Grandisson with special projects.

During his tenure, Arch said Mr Hutchings was instrumental in supporting the company’s growth, as evidenced by the size of the company’s investment portfolio which grew from $6 billion to more than $26 billion.

Mr Grandisson said: “Christine is a dynamic and strategic investment leader with the experience and expertise to help bring our strong investment team into the next era.

“Her deep understanding of the insurance industry, her ability to lead and develop teams, and her strong ability to collaborate across an organisation make her a welcome addition to Arch and to our executive leadership team.”

He added: “I would like to thank Preston for his contributions to the company over the past 16 years.

“He assembled a world-class investment team that produced excellent results for our shareholders amid an evolving economic landscape and numerous financial stresses and challenges.

“We are eternally grateful for his guidance and leadership in managing our portfolio.”

Arch said Ms Todd most recently served as the head of fixed income, US, for Amundi US, and has more than 30 years of experience.

She has also held executive roles at Neighborly Investments, Standish Mellon Asset Management Company LLC and Gannett, Welsh & Kotler, the company said.

Ms Todd is a chartered financial analyst and holds a bachelor’s degree from Georgetown University and an MBA from Boston University.

Arch Capital Group Ltd is a publicly listed Bermuda exempted company with approximately $15.8 billion in capital at March 31, and provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.