Bermudian-domiciled Athora Holding Ltd, an insurance and reinsurance group focused on the European market, has appointed Bruce Hemphill as chairman.

Effective January 1, Mr Hemphill will replace Nikolaus von Bomhard, who will retire after serving six years as chairman since Athora’s inception.

The company said Mr Hemphill is a financial services veteran with a 30-year track record in senior executive and non-executive leadership roles across international markets and jurisdictions.

He joins Athora from Catalina Holdings (Bermuda) Ltd where he was most recently non-executive chairman.

Mr Hemphill said: “It is an honour to take on the role of chair at this pivotal stage in Athora’s development.

“My focus will be to build upon the strong foundations that have been set for the benefit of all stakeholders in the years to come.

“Athora has an effective business model, talented people and is in a great place to deliver its strategy, supported by high quality long-term global investors.

“I look forward to working with the board and management teams to deliver the next phase of Athora’s journey.”

Mike Wells, group chief executive officer, said: “I’m delighted to welcome Bruce as chair and look forward to working with him. Bruce’s long history of leadership and deep experience in financial services makes him an ideal person for this role, and to support the next stage of our growth.”

He added: “Nikolaus has been a driving force in Athora’s establishment as a leading savings and retirement services group in Europe and leaves the group in a strong position. I would like to sincerely thank him for his significant contributions to Athora over the last six years.”

Dr von Bomhard said: “It has been an incredible journey with Athora and I am immensely proud of what we have achieved so far.

“I have the utmost confidence in Athora’s future and, as I step down from my role as chair, I look forward to watching Athora continue to grow and shape the savings and retirement services market in Europe.”