Alissa Fredricks has been appointed chief executive officer, Bermuda Markel Catco Investment Management Ltd.

She will assume responsibility for all of Markel Catco’s operations at its offices on the island. The newly created position takes immediate effect.

Ms Fredricks joined Markel Catco in May 2016, and was previously the chief risk officer where she oversaw the company’s portfolio and all underwriting activity. She will continue with this responsibility as part of her new role.

Before joining the company, she was with AIR Worldwide where she was responsible for leading catastrophe risk modelling consulting services for the insurance, reinsurance, and ILS markets.

Ms Fredricks will report to Tony Belisle, CEO of Markel CATCo Investment Management Ltd. He said: “Markel Catco is expected to grow to approximately $6 billion in 2018, an increase of over 30 per cent in a year. This significant growth has created the opportunity to appoint Alissa who will lead the team on a day-to-day basis.

“We are incredibly fortunate to have in Alissa someone who understands all aspects of our business, and in particular, possesses the strong actuarial skills that our business is built on.

“I would personally like to congratulate Alissa on her promotion. In a short space of time she has proven to have the necessary skills, knowledge and personality to be CEO, Bermuda. I wish Alissa every success in this important role and greatly look forward to continuing to work closely with her.”