Tony Hay will retire as president and chief underwriting officer of Arch Insurance (Bermuda) at the end of the year, after more than two decades with the organisation and more than five years at the helm.

Mr Hay has served as president and CUO of Arch Insurance (Bermuda) since 2018.

A statement from the company said: “Under his leadership, the Bermuda insurance operation has grown considerably, tripling its premium since 2018 and establishing Arch as one of the largest insurers on the island.

“He joined Arch in 2002 and established the Bermuda professional lines team, which he managed until his promotion to CUO in 2011.

“Prior to joining Arch, Mr Hay was vice-president, underwriting, at Ace Bermuda Insurance Ltd and has held a series of senior roles across an insurance career spanning 45 years.

Arch Insurance (Bermuda) will soon announce Mr Hay’s successor.

Hugh Sturgess, president and chief executive officer, Arch Insurance International, said: “Tony has been essential to the success of Arch Insurance (Bermuda) both in terms of underwriting stewardship and building an impressive team.

“He has inspired those around him to a commitment in delivering the highest possible standards for our brokers and clients. We are grateful for his huge contribution to Arch and wish him all the very best for his retirement.”