Global speciality insurer
Brit Limited has appointed a new group chief executive officer, it announced today.
Matthew Wilson will take on the role from January 01, 2017, taking over from Mark Cloutier who will become executive chairman of the company.
Wilson began his career with Lloyd’s and joined Brit in 1999, becoming CEO of Brit Global Specialty in 2008.
He became a member of the executive management committee a year later, and in February last year was appointed group deputy CEO.
Speaking of Wilson’s appointment, which is still subject to regulatory approval, Cloutier said there is “no-one who knows the business better.”
“He has the skill-set, market experience and leadership qualities to successfully take the business forward on the next stage of its journey,” Cloutier continued, adding that he would continue to work closely with Wilson as the two executives take on their new roles.
As executive chairman, Cloutier will provide leadership and support on a full-time basis to Wilson and the senior management team, the company said in a release.
Wilson said he was honoured and excited to lead Brit, thanking Cloutier for his instrumental work in the “transformation” of the company in the past few years.
“Today we are a highly successful business with a clear strategy, a strong culture and a hugely supportive parent in Fairfax,” he continued.
“I am pleased that Mark will continue to play a crucial role as executive chairman, supporting myself and the senior management team as we look forward to 2017 and beyond with confidence.”
As part of the move, Richard Ward, currently non-executive chairman of Brit, will remain on the Board of Brit Ltd, assuming the role of senior independent director.
He will also continue as chairman of Brit Syndicates Limited, Brit’s regulated entity.
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