Top executives of the dominant market leader emerging from the combination of Bermuda’s two leading domestic insurers will set their sights on new strategies for growth.

BF&M and Argus Group are now shuffling executive members into the team they believe will develop a path towards a prosperous future.

The existing companies will each contribute four members to the combined executive leadership committee.

It was revealed in June that they had entered into a definitive amalgamation agreement in which BF&M and Argus will combine in an all-stock transaction.

Subject to regulatory and shareholder approvals, a planned completion date is envisioned in the fourth quarter of 2024, at which time the executive appointments will be effective.

The organisations said the team was carefully selected by the directors of both companies, bringing together talented executives from each organisation.

They said the integrated leadership bench combines deep institutional knowledge with future-focused vision, ensuring the company is well-equipped to navigate the road ahead and achieve its strategic goals.

In addition to the previously announced appointments of Abigail Clifford of BF&M as group president and chief executive and Peter Dunkerley of Argus as EVP, group chief financial officer, the following appointments have been made:

• Caroline Mills-White as EVP, group head of property & casualty (EVP, group head of P&C at BF&M)

• Peter Lozier as EVP, group head of benefits (chief commercial officer and head of Global Health at Argus)

• Gemma Rochelle as EVP, group general counsel and chief compliance officer (EVP, group general counsel and chief compliance officer at BF&M)

• Hannah Ross as EVP, group chief capital and risk officer (chief strategy and capital officer at Argus)

• Jennifer Campbell as EVP, group chief human resources officer (chief human resources officer at BF&M)

• Alex Reynolds as EVP, group chief corporate development officer (chief corporate development and investors relations officer at Argus)

Anthony Joaquin, chairman of BF&M, said: “With this exceptional leadership team in place, the BF&M board of directors is confident we have set the foundation for the new organisation to thrive in an increasingly dynamic market environment.

“The members of this integrated group will each contribute unique expertise to the success of the future company, enabling us to best serve our customers, open doors for our people, and lead the future growth of the Bermuda insurance market.”

David Brown, chairman of Argus, added: “The Argus board of directors believes the strength of this combined leadership team is representative of the superior talent each organisation brings to the table.

“We believe the collective expertise and innovative approach of this group will drive new opportunities for growth and ensure success in serving the Bermuda and international communities in our footprint.”