Neill Currie has been appointed executive chairman of Bermudian-based Ascot Group Limited.

He was previously CEO of RenaissanceRe Holdings Ltd, which he cofounded in 1993, and led from 2005 until his retirement in 2013.

Ascot Group holds Ascot Underwriting Ltd, a leading global specialty insurance underwriter, which manages Syndicate 1414 at Lloyd’s, and Ascot Underwriting Bermuda Limited, a managing general agency.

Canada Pension Plan Investment Board, which acquired these operations in 2016, will invest and build a global property and casualty insurance and reinsurance platform through AGL.

“The opportunity to work with AGL’s management team and CPPIB to build a dynamic and global P&C company is uniquely compelling,” said Mr Currie.

“I am looking forward to working with the many people associated with AGL to build a company that will provide its clients with an array of best-in-class insurance and reinsurance solutions.”

In a statement, Ascot said Mr Currie had, during his time as CEO of RenRe, “successfully stewarded the company through its growth and evolution to become one of the pre-eminent providers of reinsurance and insurance globally”.

It noted that under his leadership the company’s success was “driven by its creative and unique insurance products for clients, leading-edge underwriting expertise and support for ground-breaking catastrophe research and mitigation activities”.

Andrew Brooks, chief executive officer of AGL, said: “We are thrilled to have an individual of Neill’s calibre join as the executive chairman.

“His deep expertise, excellent reputation and proven track record as a visionary in the insurance and reinsurance industry will position AGL well as it looks to build a leading global P&C insurance platform.”

In his new role Mr Currie will work with AGL’s management and board of directors to grow its operations and capabilities through a variety of strategic initiatives including organic growth programmes, joint ventures, strategic investments and acquisitions.