Industry veteran Sven Wehmeyer has been promoted to the position of executive vice president, head of international, at Bermudian-based Validus Re, the reinsurance arm of AIG.

The appointment was effective June 1.

Based in Bermuda, Mr Wehmeyer will assume responsibility for the non-US property reinsurance and overseas offices of Validus Re. He will report to Chris Schaper, who is chief executive officer of AIG Re and Validus Re.

Mr Wehmeyer is chief executive officer of Validus Reinsurance (Switzerland) Ltd, and will continue in that position.

In his new role, Mr Wehmeyer will succeed Steve Bardill, who is to retire in October.