AM Best has appointed Kenneth J. Johnson as senior managing director and chief ratings officer, responsible for the agency’s global ratings coverage.

Mr Johnson will be based at AM Best’s global headquarters in Oldwick, New Jersey, and will report to Stefan Holzberger, who has assumed the position of executive vice president and chief operating officer, AM Best Rating Services.

The organisation said Mr Johnson has more than 30 years of experience in the insurance industry and credit analysis, including managerial roles at HSBC Securities (USA) Inc, and at JP Morgan/Chase Manhattan Bank, covering the insurance industry in various capacities.

He joined AM Best in 2009 and since has taken on positions of increased responsibility, most recently as managing director and a senior member of AM Best’s rating division.

Mr Johnson also co-founded the rating division’s investment working and hybrid evaluation groups.

Mr Holzberger, who joined AM Best in 2001, previously held the role of chief ratings officer.

With his new responsibilities as chief operating officer, he is responsible for AM Best’s ratings operations globally, including data management and systems, rating methodology and the ratings division.

He will report to James Gillard, president, AM Best Rating Services.

In addition, Mr Holzberger will hold executive management positions in AM Best’s non-US subsidiaries.