Patrick Neal has been appointed chief executive of Freisenbruch Insurance Services.

With a strong track record of success and extensive experience in strategic development and project execution, Mr Neal brings a wealth of leadership and client-centric solutions to the organisation, the company said.

A statement continued: “Patrick, together with the senior management team, will lead the company’s growth initiatives and drive innovation, further solidifying Freisenbruch’s position as a solutions driven local insurance and pensions plan provider.”

Michael Freisenbruch maintains his role as FIS president and chairman, focusing on not only strategy but client and stakeholder relationships.

The statement added: “We are very fortunate to have someone of Patrick’s highly valued experience to lead the firm. We are at a significant stage of our organisation and welcome Patrick’s leadership qualities to successfully implement our business strategies, optimise market opportunities, and deliver value to all our stakeholders.”

As a Chartered Property Casualty Underwriter, Mr Neal has over 18 years of experience in the local insurance industry.

He has held several high-level positions in the Bermuda and Caribbean Region including chief client officer, chief underwriting officer, and head of business development and bancassurance.

He said: "I am honoured by the trust Michael Freisenbruch and the board of directors have placed in me to lead this exceptional organisation and talented management team as we enter into a new phase of growth at Freisenbruch.

“I am thrilled to be working with such a dedicated and client focused staff, comprised of longstanding and young Bermudian professionals.

“I have taken great pride in mentoring young Bermudians who have gone on to higher level positions in the insurance industry and hope I can have a similar impact at Freisenbruch.

"I truly believe that we can deliver on the organisational strategies with a client-centric business model. We have a very stable and longstanding ownership consisting of FM Investments (Holding) Ltd., led by Michael Freisenbruch, and Chubb Bermuda Insurance Ltd.

“Our focus is on delivering the best service to our clients. I also wish to thank Andrew Wright for his dedicated service and thoughtful guidance as I transitioned into the CEO position.”

The statement said: “Andrew Wright, who held the role of CEO since 2018, has accepted a position with the FIS board and will continue to contribute to Freisenbruch’s success.

“Given Andrew’s extensive history with the firm’s operational strategies and business goals, the company expresses its gratitude to Mr Wright for his significant contributions and exemplary leadership during his tenure.”