Hayley Johnston, the chief executive of Bermudian-based Lancashire Insurance Company Ltd, is to join the board of Brace Underwriting Ltd as an independent non-executive director, subject to regulatory approval.

London-based Brace is a multi-line and alternative risk specialist underwriter backed by Beat Capital Partners, a subsidiary of Ambac Financial Group Inc.

Ms Johnston was formerly chief underwriting officer for Lancashire Insurance Company (UK) Ltd. Before Lancashire, she worked at Axis Specialty Europe, where she was the underwriting and outwards reinsurance manager.

Adam Holberry, group chief executive of Brace, said: “Hayley is a respected figure in our market and has demonstrated excellent underwriting skills through positive results at Lancashire.

“We are excited to have her knowledge and expertise as we continue our expansion in the US and further cement our position as a leading delegated authority underwriter in Lloyd’s and Europe.”