Axcelus Financial has appointed Bermuda market veteran Keith Stock as chief executive of four of its companies on the island.

Mr Stock is to lead Class C insurance companies Axcelus Financial Life Ltd, Axcelus Financial Global Insurance Ltd, and Axcelus Financial Life Insurance Company (Bermuda) Ltd, as well as holding company Axcelus Financial Holdings Ltd.

The Philadelphia-based company said the Class C insurance companies were international providers of private placement life insurance, individual variable annuities and institutional group annuities placed through an international network of financial advisers and distributors.

Mr Stock also serves as a director of Axcelus.

The company said his appointment came after a year of strong international growth for Axcelus following its rebranding last January.

Mr Stock has more than 30 years of experience in leading insurance, banking, financial services and securities firms.

Before joining Axcelus, he served as chairman and chief executive of Worldwide Reinsurance (Bermuda) Ltd; executive chairman of Clarien Bank Ltd; chief strategy officer of US-based insurer TIAA; and president of Mastercard Advisers, the card services, information and insurance unit of Mastercard Worldwide.

Tom Considine, the chairman of the board of Axcelus, said: “Keith’s financial services knowledge, extensive distribution and marketing experience, many international relationships and proven executive know-how will be invaluable to the company as it transitions to its next stage of international growth and development.”