Kathleen Reardon is leaving her position as chief executive officer of Hamilton Re.

Hamilton Insurance Group Ltd announced yesterday that David Brown, Hamilton Re’s chairman and the former CEO of Flagstone Re, has been appointed interim CEO of the group’s reinsurance arm.

The statement did not detail why Ms Reardon is leaving, only that she and Hamilton “are parting company”.

Pina Albo, CEO of Hamilton Insurance Group, said: “We would like to express our sincere gratitude to Kathleen for all she has contributed to Hamilton’s growth and development since its inception. We wish her every success in her future endeavours.”

Mr Brown will take the helm of Hamilton Re until a successor is announced.

“David is a widely respected insurance professional with hands-on knowledge of Hamilton’s business,” said Group CEO Pina Albo.

“He has been chairman of Hamilton Re, Ltd. since 2015 and was Hamilton Insurance Group’s interim CEO for nine months until my appointment in February 2018. He knows our business and our people well, so our transition in management responsibilities will be seamless.

“David’s leadership and experience will be instrumental as we accelerate plans, in current favourable market conditions, to take advantage of our expanded platform, products, and our global teams to achieve our goals.”