Mt Logan Re, the third-party capital unit of Everest Re Group, has appointed Charles E.F. Millard as a non-executive independent board director.

The company also announced the retirement of Frank Lopapa, who has served as a non-executive independent board director for Mt Logan for eight years.

“On behalf of the Mt Logan management team, I am thrilled to welcome Charles, who adds a valuable new dimension of expertise and perspective to our board,” John Modin, president of Mt Logan, said.

“Charles brings more than 25 years of experience across the advisory, banking and public sectors, as well as extensive knowledge of how institutional investors and pension plans evaluate and monitor investment strategies. I look forward to working closely with him as we continue to enhance Mt Logan’s value to both Everest and our growing investor base.”

Mr Millard is presently an independent adviser to multiple asset management companies. He served as Citigroup’s head of pension relations, where he oversaw relationships with corporate and public pensions as well as the firm’s annual pension conference.

He said: “Mt Logan has an exceptional reputation as a top-performing third-party capital manager with leading sustainable returns.

“As an adviser, I hope my experience working with chief investment officers at large global allocators adds value to support continued growth across the platform.”

Mr Modin added: “We would like to thank Frank Lopapa, who has served both Everest and Mt Logan for nearly four decades. During his time as Everest’s treasurer, Frank was instrumental in the formation of Mt Logan in 2013.

“Upon his retirement from Everest in 2015, Frank joined the Mt Logan board and we have greatly benefited from his wisdom and long-tenured financial background. We wish Frank all the best in his well-deserved retirement and future endeavours.”