Price Forbes Re, an independent specialist risk strategy and reinsurance broker based in Bermuda, London and the US, has appointed Colin Kelley to the newly created role of chief commercial officer.

In his new role, Mr Kelley will work closely with Price Forbes Re’s insurance, reinsurance and capital markets teams and will report to Chris Bonard, the company’s president.

Mr Kelley said: “As the correlation of capital between insurance and reinsurance continues to evolve, there are excellent opportunities for Price Forbes Re to support clients and develop our own growth.

“The team is full of enthusiasm for the direction in which Price Forbes Re is headed and I am excited to continue to push the business to the next level with this new role.”

Mr Bonard added: “Colin’s deep industry knowledge and understanding of the Price Forbes Re ethos make him the perfect fit for this role.

“His relationship-centred approach will help us drive growth while continuing to deliver high-quality solutions for our clients and trading partners across our key markets.

“His expertise in managing commercial lines and understanding the evolving capital dynamics in the reinsurance industry makes him a key asset within our leadership team.”

The appointment is subject to Bermuda regulatory and immigration approval.