Duncan Hennes and Valerie Rahmani have joined the board of Bermudian-based RenaissanceRe Holdings Ltd.

They have been appointed as independent directors.

Mr Hennes is the co-founder and Partner of Atrevida Partners, LLC. While Dr Rahmani most recently served as chief executive officer of Damballa, Inc, a privately-held cybersecurity company.

They replace former board members William Hagerty and Ralph Levy. Mr Hagerty retired from the board last month after a two-year spell, after the US Senate confirmed his appointment as ambassador to Japan.

Mr Levy has retired from the board, after serving since 2007. He was non-executive chairman from 2011 to 2016.

Kevin O’Donnell, CEO of RenaissanceRe, said: “On behalf of my fellow directors and management team, I am pleased to recognise Ralph and Bill for their distinguished service. Ralph’s leadership and advice during his 10 years as a director helped RenaissanceRe to navigate through market cycles, important regulatory developments and organisational changes.

“Bill’s wise counsel during his tenure was invaluable during a pivotal period for the company.

“We thank them for their service, and look forward to welcoming Duncan and Val.”

James Gibbons, non-executive chairman, said: “The entire RenaissanceRe board is grateful for Bill and Ralph’s service and leadership as directors.

“We congratulate Bill on his confirmation to the critical post of ambassador to Japan. Bill made important contributions to the board and the company and we wish him all the best in this important new role.

“We also congratulate Ralph for his distinguished service on our board, including his tenure as non-executive chair during which he helped lead us through change and transitions, while ensuring the consistency of our approach and protecting the collegiality of our board.

“Our board continually reviews its composition in light of the company’s strategy and evolving operations, and seeks to identify potential candidates who may strengthen our board’s breadth of talent and background.

“With Duncan and Val we are delighted to have identified two such outstanding individuals. We welcome them to our board.”

Mr Hennes cofounded Atrevida Partners in 2007. His previous experience includes a number of senior executive positions at Bankers Trust Company, including executive vice-president in charge of trading, sales and derivatives, and as the chairman of the board of Oversight Partners I, the consortium that took control of Long Term Capital Management.

Following his time at Bankers Trust, he went on to become the CEO at Soros Fund Management. Mr Hennes has served on the board of Citigroup since 2013, where he currently chairs the personnel and compensation committee and serves on the executive committee and the risk management committee.

Dr Rahmani has more than 30 years of experience in the technology industry, including more than 25 years at IBM serving in roles of increasing seniority across multiple global business segments.

Subsequent to her tenure at IBM, she was CEO at Damballa, an internet security software company, from 2009 to 2012.

Since 2015, Dr Rahmani has served on the board of Computer Task Group, Incorporated, an information technology solutions and software company, where she currently chairs the compensation committee and serves on the audit committee and the nominating and corporate governance committee.

Dr Rahmani also serves on the board of UK-based Aberdeen Asset Management PLC, where she is chairwoman for the innovation committee.