Andrew Gibbs is to rejoin the private sector after leaving a top role at the Bermuda Monetary Authority,

Mr Gibbs, who was director of insurance supervision at the island’s financial regulator for two years, will join AmTrust International Insurance as chairman and chief operating officer, effective September 6, 2016.

He will have responsibilities with AmTrust International Insurance’s Bermuda operations and will also provide strategic advice for the firm’s European subsidiaries, according to a statement from AmTrust.

Mr Gibbs said: “I am excited at the prospect of joining the AmTrust management team as the group continues to grow its footprint in the global insurance market. Over the past two years, Bermuda has received qualified jurisdiction status under the NAIC financial standards and accreditation programme as well as full equivalence from the European Commission under Solvency II, and it has been a privilege to have witnessed these achievements first hand. But now, I felt that the time was right for me to move back into industry.

“Since December 2014, I have had the opportunity to observe AmTrust’s experienced and dynamic management team and I believe that AmTrust is the right platform and match for my experience.”

Mr Gibbs has more than 30 years’ experience in the insurance industry. Before joining the BMA in January 2014, He held senior executive positions at Bermudian reinsurer Validus Holdings Ltd, where he was group controller, and at the Ace Group of Companies, now Chubb, where he held positions including chief financial officer of Ace Global Re and chief financial and operating officer of Ace Bermuda.

Mr Gibbs was also with Ernst & Young Bermuda from 1986 to 1996, where he became the lead insurance audit partner and led a technology consulting department.

AmTrust Financial Services, the parent company of AmTrust International Insurance, is a multinational insurance holding company with headquarters in New York.

Mr Gibbs is joining the company at a time of expansion. AmTrust this month purchased Republic Cos from Israel’s Delek Group Ltd. It has also agreed to buy a Lloyd’s of London insurer, ANV Holdings BV, from the Ontario Teachers’ Pension Plan.

Last year AmTrust struck deals to buy a European mortgage-insurance unit from Genworth Financial and a crop insurer from Monsanto.

“We are pleased to welcome Andy to our senior management team where he will have responsibility for operations in Bermuda and a strategic role in Europe,” Barry Zyskind, AmTrust’s chief executive officer, said.

“It is rare to find someone with the breadth of financial and operating experience at both insurance holding and subsidiary company levels, particularly with Andy’s audit and regulatory experience.”