Bermudian-based Lancashire Holdings Ltd has appointed two new non-executive directors, and has announced that two others who have served in that capacity have decided to step down from the company’s board.

Nathalie Rachou has joined the board, and Bob Cox has accepted an appointment to join, effective January 1.

Lancashire said Ms Rachou has strong asset management and capital markets experience, with commercial and financial expertise across several sectors including as a senior manager and entrepreneur.

She holds directorships on the boards of UBS Group AG and Euronext NV, and previously served on the boards of Veolia Environnement, Laird Group plc, Altran SA, and Société Générale.

In 1999, Ms Rachou founded Topiary Finance Ltd, an asset management company based in London, serving as chief executive until its merger with Rouvier Associés in 2015. She was a senior adviser at Rouvier Associés-Clartan until 2020.

Lancashire said Mr Cox is an experienced insurance underwriter and senior manager with experience of the US and international insurance markets. He joined Markel in 2018 as president and chief operating officer, Insurance Operations and stepped down from that role last December. Mr Cox previously served in leadership positions within Chubb Specialty Insurance.

The company said Rob Lusardi and Michael Dawson have each served as non-executive directors on the Lancashire board for more than eight years. In accordance with recommended British governance practice, Mr Lusardi and Mr Dawson have decided not to submit themselves for re-election and to step down as directors at the 2025 annual general meeting, which is planned for April 30.

Lancashire said that Linda Ventresca, non-executive director, has been appointed as a member of the audit committee and investment committee.