Paul Eaton has been appointed as the new chief executive officer of Artex International.

He succeeds Nick Heys, who has transitioned to become the chairman of the organisation.

Mr Eaton, who is based in Guernsey, joined Artex in 2004 after more than 13 years as an underwriter in the insurance market with RSA.

He spent his first 14 years at Artex in a variety of positions, ranging from client management to leading business development, and then moving into the role of managing director of its insurance linked securities operations, where he was responsible for driving the strategy, planning and growth of the Artex ILS business across all locations.

Following the acquisition of Bermudian-based Horseshoe – the ILS powerhouse founded by Andre Perez – Mr Eaton moved into the role of commercial director for Artex Capital Solutions.

Most recently, he led Artex's European operations as the regional managing director, driving growth, creativity and efficiency throughout its Malta, Gibraltar and London offices, the organisation said.

Mr Eaton will serve on the Artex executive leadership team, driving strategy around talent, organic growth, mergers and acquisitions, and operational efficiency for Artex's international operations, including Guernsey, Gibraltar, Malta, London and Singapore.

Mr Heys joined Artex in 2014 with the acquisition of Heritage Insurance Management.

Since then, the organisation said, he has worked diligently to grow and support Artex's international market teams and clients.

Artex said Mr Heys has a long track record driving revenue growth, stewardship and partnership with the many stakeholders in the organisation.

An Artex spokesman said: “With 40 years of insurance industry experience, Nick will continue to be a critical part of the Artex DNA. We look forward to Nick's continued success in this new and exciting capacity.”