AmTrust International Insurance, a subsidiary of AmTrust Financial Services, a multinational insurance holding company headquartered in New York, has appointed Andrew Gibbs as chairman and chief operating officer (COO).
Gibbs was previously the director of insurance supervision at the Bermuda Monetary Authority (BMA).
Effective September 6, 2016, he will assume responsibilities for AmTrust International Insurance’s operations in Bermuda and also serve as a senior executive, providing strategic advice, for the company's European subsidiaries.
Gibbs is a chartered accountant and chartered insurer with 30 years of experience in the insurance industry. Before joining the BMA, he held senior executive positions at Validus Holdings., where he served as group controller, and ACE, now Chubb Group of Insurance Companies, where he held positions including chief financial officer of ACE Global Re and chief financial and operating officer of ACE Bermuda. Prior to his roles at ACE, Gibbs was a partner with Ernst & Young in its insurance practice.
"We are pleased to welcome Andy to our senior management team where he will have responsibility for operations in Bermuda and a strategic role in Europe," said Barry Zyskind, AmTrust's president and chief executive officer. "It is rare to find someone with the breadth of financial and operating experience at both insurance holding and subsidiary company levels, particularly with Andy's audit and regulatory experience."
Gibbs added: "I am excited at the prospect of joining the AmTrust management team as the group continues to grow its footprint in the global insurance market. Over the past two years, Bermuda has received qualified jurisdiction status under the National Association of Insurance Commissioners (NAIC) financial standards and accreditation programme as well as full equivalence from the European Commission under Solvency II, and it has been a privilege to have witnessed these achievements first hand.
“But now, I felt that the time was right for me to move back into industry. Since December 2014, I have had the opportunity to observe AmTrust's experienced and dynamic management team and I believe that AmTrust is the right platform and match for my experience."
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