Christopher Coleman is to succeed Kevin Chidwick as group chief financial officer at Bermuda-based Aspen Insurance Holdings Limited.

The re/insurer said that Mr Coleman will take up the role, based in Bermuda, next Tuesday and will join the company’s executive committee.

Aspen said that Mr Chidwick has decided to retire, and will leave the company at the end of the year.

It said that Mr Coleman is a highly regarded finance leader within the insurance market and was most recently CFO of Third Point Re until its merger with Sirius Group.

The company said that Mr Coleman also has strong transaction and capital markets experience, including the recent acquisition of Sirius Group by Third Point Re, Third Point Re’s IPO as well as having had key roles in a number of other merger, debt and equity transactions during his career.

Mr Coleman also served as CFO of Alterra Bermuda Limited, was chief accounting officer for Harbor Point Limited and held a senior audit manager role with PwC.

Aspen said that Mr Coleman is originally from the United States but has spent much of his career based in Bermuda.

Mr Coleman said: “I am excited to be joining Aspen at such a key time in its turnaround journey. Aspen has taken a number of actions to date that have begun to take shape and I’m looking forward to working with the team to build on this momentum.

“I look forward to bringing my knowledge and experience to make a positive impact on the culture and to help drive improvement in the underlying results of the business.”

Mark Cloutier, executive chairman and group chief executive officer, said: “As we continue to accelerate into the next phase of our transformation, Chris’s track record of helping to drive strong financial outcomes in high-performing insurance businesses will be a valuable addition to our group executive leadership team.

“Chris will partner with each member of the group executive committee, including Mark Pickering, our group chief capital management officer and treasurer, who will continue to successfully lead our capital management strategy and corporate finance initiatives.”

He added: “During his time at Aspen, Kevin has played an important role in helping return the business to profitability, despite a challenging market environment.

“With the group now in a position to look towards its longer-term strategic objectives, we respect Kevin’s own time horizon and decision to retire.

“In Chris we have identified the ideal successor, and I am pleased that we have been able to deliver a smooth transition period.

“On behalf of the board, I would like to thank Kevin and wish him well in his retirement.”

Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly owned subsidiaries and offices in Australia, Bermuda, Canada, Singapore, Switzerland, the United Kingdom and the United States.