Richard Ward, CEO of Lloyd's of London, will become chairman of Brit Insurance Holdings B.V. and of Brit Syndicates Ltd., effective Feb. 1, 2014, Brit announced Tuesday.
Mr. Ward has served as chief executive of Lloyd's since 2006.
He announced during the summer that he would step down as CEO of Lloyd's at the end of the year.
“Over the past three years, we have transformed Brit into a global specialty insurer and reinsurer operating solely through our Lloyd's of London platform,” Brit CEO Mark Cloutier said in a statement announcing the appointment. “Richard's experience and understanding of the global marketplace is second to none and I am extremely pleased he will be bringing his great depth of experience and knowledge to Brit.”
Brit is a Dutch-domiciled insurer and reinsurer.