Dan Trueman has left his role as global head of cyber at Axis Insurance to join CFC Underwriting as chief underwriting officer.

The company said current CUO Andy Holmes would be assuming the role of chief executive officer.

Mr Holmes said: “Dan’s expertise in innovation will add huge value to our business going forward.

“Innovation is in our DNA and runs through every class of business and every product we write.

“I have no doubt that he will play a pivotal role in helping CFC identify new niche areas where we can add value and work with our underwriters to ensure we write profitable and sustainable business.

“Dan has also been a key figure in cyber for many years and his experience in this sector will clearly prove invaluable given our position as one of the world’s leading cyber markets.”