The insurance operations head at Argo has been promoted to lead the firm’s strategy and development arm.

Nigel Mortimer is to become executive vice-president as well as continuing to run the insurance operations in Bermuda.

Argo group president and CEO Mark Watson said: “We believe the future has never looked less like the present.

“We have established an ambitious route map for Argo which recognises that we’re not content to fly in the slipstream of market opportunity.”

He added: “Nigel has had great success in building new businesses over the past five years — businesses that have attracted skilled entrepreneurial talent to Argo.

“He’s ideally suited to for taking on this new role aimed at creating genuinely new opportunities for Argo while ensuring the effective execution of our chosen strategy.”

Mr Mortimer, whose new appointment is subject to approval by the Department of Immigration, joined Argo five years ago.

He has been responsible for establishing the firm’s insurance operations in Bermuda, Brazil, Dubai and continental Europe as well as leading the group’s product development initiatives.

Before joining Argo, he was head of product development at business insurer XL and insurance firm Zurich in Bermuda, London and Australia.