A veteran of the Bermuda reinsurance market has been appointed as division president of Chubb Tempest Re International.

Wayne Ashley, who worked on the island from 2006 until 2017, was previously deputy head of the business.

In his new role, Mr Ashley will be responsible for the overall management and development of Chubb Tempest Re's international property and casualty reinsurance business.

The appointment, which is subject to regulatory approval, is expected to be effective on April 1.

Mr Ashley will report to Jim Wixtead, senior vice-president, Chubb Group and president, Chubb Tempest Re.

He succeeds Stephen Roberts, who is retiring from the company at the end of April.

Mr Wixtead said: "Wayne is a seasoned reinsurance executive who has had leadership roles at Chubb Tempest Re for more than 15 years.

“Having served as deputy head of our international P&C reinsurance business, he is well positioned to lead as division president.

"I look forward to working with Wayne as we continue to serve our clients in this important international business."

Mr Ashley has nearly 30 years of experience in the insurance industry.

He joined Chubb Tempest Re Bermuda in 2006 as assistant vice-president, International, and was promoted to vice-president in 2009 and senior vice-president in 2012.

Mr Ashley relocated to London in 2017 and moved into the deputy role responsible for all international property lines of business in 2019.

Chubb Tempest Re is the reinsurance business of Chubb.

It does business globally from offices in Bermuda, Connecticut, London, Montreal and Zurich.