A Bermudian-based (re)insurer is searching for a new chief financial officer.

Argo Group International Holdings is looking for a successor to Jay Bullock, who is leaving the company after 12 years. Argo said it has started an outside search for his replacement.

Mr Bullock joined Argo in Bermuda as CFO in May 2008. He had previously been senior managing director in Bear Stearns’ Financial Institutions Group.

Kevin Rehnberg, who was confirmed as Argo’s new chief executive officer in February, said: “We have initiated a succession plan for the CFO role, as Jay will be leaving the company. I would like to personally thank him for his support, especially in my new role. I’m also appreciative of his commitment to continue serving as CFO until his successor is hired and assisting with a smooth transition as we begin the public search immediately.”

Argo, which has offices on Pitts Bay Road, Pembroke, has also updated responsibilities for its leadership team.