Bermuda market veteran Wendy Young has been appointed to the newly created position of chief liability officer at Iowa-based F&G Annuities & Life Inc.

Ms Young will transition from her role as chief financial officer on April 1. Conor Murphy will succeed her as CFO.

Chris Blunt, chief executive of F&G, said: “Over the past five years, we have experienced phenomenal growth, having more than doubled our assets under management as we diversified our products and distribution, while also expanding our business model to include accretive flow reinsurance and our owned distribution strategy.

“Critical to our ongoing success and execution is ensuring that we have the people in place to effectively manage our growth as we continue to scale our company.

“As a result, we are evolving our organisational structure and have appointed Wendy Young to a newly created position where she will lead all aspects of F&G’s liability management, reinsurance activities and our offshore entities.

“Wendy’s deep knowledge of F&G as well as her prior work as CEO of our Bermuda business makes her the ideal executive to assume this role. I am grateful that Wendy has agreed to lead this effort, given its importance to our long-term success.”

F&G Life Re Ltd is licensed by the Bermuda Monetary Authority in the long-term Class E category.