Bermudian-based Somerset Reinsurance Ltd, a provider of reinsurance solutions to the US life insurance and annuity market, has appointed Manisha Dias as head of New Business Development.

Ms Dias will be based on-island, reporting to Jeff Burt, the chairman and chief executive officer of Somerset.

The company said she would be responsible for leading all commercial activity for the business globally and overseeing policy for underwriting and pricing.

Ms Dias joins Somerset from SCOR Global Life Reinsurance in Charlotte, North Carolina, where she was head of Partnerships.

Somerset said she had co-founded the Partnerships business, which encompassed the development of proprietary and digitally enabled life product offerings and led various teams through the growth of the business in the US market.

She was previously at SCOR in Toronto, responsible for new business development and cultivating an innovation footprint for the Canadian market.

Before SCOR, Ms Dias held a number of traditional and non-traditional actuarial roles globally across Canada, the US and Asia at John Hancock and Manulife.

“I am delighted that Manisha, such an experienced and successful client relationship manager, has chosen to join the Somerset Re team,” said Mr Burt.

“Manisha brings a deep track record of relationship building that is certain to expand our rapidly growing success in the US and lead our expansion efforts around the globe.”

Ms Dias added: “I am beyond thrilled to join the world-class team at Somerset.

“They have laid a strong foundation with their multi-faceted platform and reinsurance expertise to be able to solve clients’ challenges in unique and meaningful ways.

“I look forward to building on the recent growth and success of the organisation and serving insurance partners worldwide.”