Insurance industry veteran Susan Pateras has been elected deputy chairwoman of the board at the Bermuda Business Development Agency.

Her appointment is effective immediately.

The BDA also announced that board member Fiona Beck has been re-elected as treasurer of the organisation.

Board members have also been assigned to the BDA’s standing committees focused on audit, compensation, and governance and nominations, the organisation said.

Stephen Weinstein, chairman of the BDA, said: “I congratulate Susan and Fiona on their election to these important roles and have every confidence they will provide rigorous oversight to advance the BDA’s mission. At a time like no other, the BDA board remains focused on delivering long-term, sustainable value to all stakeholders.”

He added: “Our strategy, and key priorities, continue to be informed by the risks and opportunities presented to Bermuda’s international business sector – particularly in light of Covid-19 and other external factors, including international trade discussions, evolving regulatory requirements and the pressing need for climate action. The entire BDA board is excited for Bermuda’s future and the central role the BDA can play in enhancing and championing our world-class jurisdiction.”

The BDA said that Ms Pateras joined its board in 2020 bringing more than two decades of insurance industry experience across the London, New York, and Bermuda marketplaces.

Previously, Ms Pateras was chief operating officer of Liberty Specialty Markets (Bermuda) and has worked as a senior vice-president at Integro Bermuda Ltd and Willis Bermuda Ltd, and was vice-president for Marsh New York’s global broking healthcare unit.

She holds a BBA from Temple University, with a dual major in risk management insurance and business law, and serves on the board of The Association of Bermuda International Companies and Bermuda Overseas Missions, a non-profit providing Bermuda’s youth with an opportunity to make a positive impact both locally and globally.

Ms Beck has been a member of the BDA board since 2016. The organisation said she is an experienced non-executive director, currently serving on the boards of several infrastructure and technology companies and on the audit committees of publicly listed companies.

The BDA said she was chairwoman for the telecommunications group of the America's Cup Bermuda Ltd, delivering key telecommunication requirements for the 2017 America's Cup. Ms Beck served as past president and chief executive officer of Southern Cross Cable Network, a multinational telecommunication company, and is also past president of Sub Optic, the industry body for the global submarine cable sector.