Marlene Cechini is the new chief financial officer at Everen Group, succeeding Ricky Lines who will assume the newly created position of chief investment officer.

Ms Cechini has been with the company for 18 years and was previously vice-president of finance. Mr Lines has held the position of CFO for 16 years with the additional responsibility for investments.

Everen is the new name for the mutual insurance company previously known as Oil Insurance Limited. Associated company, Oil Casualty Insurance Ltd. is now renamed Everen Specialty.

Bertil Olsson, president and chief executive officer said the split in the role of CFO and CIO was a strategic move in the plan for future growth and leadership.

Going forward, Mr Lines will focus his attention exclusively on the group investment portfolios.

“We congratulate Marlene on this well-deserved promotion to CFO for the group,” Mr Olsson said. “She has worked diligently on behalf of the companies and is now ready to lead the group’s finance function. I am also pleased to have Ricky continue to handle the investment portfolios for the group companies.”