Starr, the insurance and investment organisation with operations in Bermuda, has appointed Peter Hirs as the company’s chief financial officer.

He succeeds Howard I. Smith, who is retiring after more than 40 years at Starr and related entities.

The company said Mr Hirs brings significant finance and insurance experience to Starr, having spent the past 20 years at a global insurance carrier, where he managed regional finance teams across the world and led mergers and acquisitions activities.

In his new role, Mr Hirs will oversee the organisation’s global finance operations from Starr’s head office in New York.

Mr Smith had led Starr’s financial operations since 2005, when Maurice R. “Hank” Greenberg, Starr’s chairman emeritus, re-established Starr as a free-standing investment and insurance organisation, and he worked closely with Mr Greenberg prior to that, first joining him in 1984.

“Peter will be a critical partner in achieving our global ambitions,” Starr’s chairman and co-CEO, Jeff Greenberg said.

“In addition to his excellent finance experience, he has demonstrated that he is aligned with our culture and values. We thank Howie for his many contributions, and we welcome Peter to Starr.”