Former island insurance and reinsurance leader Mark Byrne is to be buried in New Hampshire on Tuesday.

A service for Mr Byrne, who died in Montreal last Thursday, will be held in St Denis’ Catholic Church in Hanover before a private family burial.

He is survived by wife Rebecca and children Sophie, Jacqueline, Matthew and Christopher.

An obituary published in the New York Times spoke of the businessman’s love of flying, sailing and his philanthropic work.

It said: “Mark held a pilot’s licence since he was a teenager and was an avid recreational pilot, flying all types of aircraft and travelling the world.

“Mark and Rebecca initiated the establishment of the Byrne Charitable Trust in 2002 and over the years have supported many charitable causes close to their hearts.

“Mark personally flew medical doctors and supplies in 2010 to Haiti to provide relief for aircraft victims, as well as numerous other relief flights to the Caribbean over the years.”

The obituary added: “Sailing was a huge part of Mark’s life and he actively participated in many sailing regattas over the years with much enjoyment and success.

“Such was his love of sailing, Mark, Rebecca and their four children spent a year sailing around the world on their family yacht.

“Mark, his family and crew were well-known and highly regarded in the yachting world.”

The obituary added: “Mark was much loved and admired by all his family and friends and his charitable nature and influencing presence left a lasting impact on all who had the pleasure of knowing him.

“His enthusiasm for business was matched by his ardour for flying, sailing, cooking, as well as golfing, scuba diving and skiing which ensured he led a full and adventurous life.

“However, his overriding passion was as a husband and a father.”

He also served on the advisory board of LeapFrog Investments, which grew its assets nearly tenfold in the seven years he served and now reaches 91 million people with healthcare or financial tools — of whom 74 million are low income.

The obituary said: “Mark felt strongly about bringing microinsurance to the developing world.”

Mr Byrne cofounded Flagstone Re with David Brown in 2005 and stepped down as executive chairman in 2010, shortly after the firm redomiciled to Luxembourg, although it maintained its presence on the island.

Mr Byrne remained a board member for a number of years afterwards.

Flagstone Re was acquired by Validus Holdings in 2012.

In 1993, he became chairman of Haverford, a holding company for insurance interests in Bermuda and internationally, a position he held until his death.

He also set up Longtail Aviation in 1999.

In lieu of flowers, the family asked that donations be made to the Jack Byrne Centre for Palliative Care in Lebanon, New Hampshire.