Arch Capital Group Ltd has named François Morin as its new chief financial officer.

The Bermudian-based insurer and reinsurer said Mr Morin’s appointment, which includes a promotion to executive vice-president, will take effect on May 25, 2018.

He will report to Marc Grandisson, Arch’s chief executive officer. Mr Morin will replace outgoing chief financial officer Mark Lyons, who is leaving Arch to become senior vice-president and chief actuary, General Insurance at AIG in New York.

Mr Morin joined Arch in 2011 and is senior vice-president, chief risk officer and chief actuary at the company.

Before joining Arch, Mr Morin served in various roles for Towers Watson & Co and its predecessor firm Towers, Perrin, Forster & Crosby, including its actuarial division, Tillinghast, where he led the firm’s engagement with Arch.

Mr Grandisson said: “Anyone who has followed our company knows one of Arch’s strengths is its deep pool of talent. François’ extensive experience leading Arch’s actuarial and enterprise risk management practices gives him valuable perspective into all financial and capital aspects of our company.”

Mr Morin said: “Arch has consistently delivered on its core strategy of being a leader in specialty lines. I look forward to working with Marc and the executive leadership team as we strive to continue to deliver superior returns over the long term, consistent with the record of financial performance we have demonstrated since our founding.”

Mr Grandisson added of the departing Mr Lyons: “Mark and I have worked together since the early days of Arch in 2002. In addition to the significant contributions he has made to our performance over the years, he has been a great colleague and friend. We wish him all the best.”

Mr Morin has nearly 30 years’ experience in the insurance industry.

Mr Morin’s promotion is subject to applicable local regulatory approvals.