CatCo Investment Management Ltd’s chief financial officer Jason Bibb has resigned to return to the United Kingdom.

In a filing with the Bermuda Stock Exchange, CatCo said that Mr Bibb, who was also chief operating officer, has resigned with immediate effect.

CatCo added that it intended to appoint Michael Toyer as CFO. Mr Toyer was previously head of investment operations at CatCo Investment Management and has more than 11 years’ accounting experience with a focus on the reinsurance, alternative investment and financial services sectors.

He was previously with Prime Management Ltd where he specialised in insurance-linked securities. Before that he held a number of senior accounting roles at Ernst & Young Ltd.

CatCo specialises in managing insurance-related investments, such as insurance-linked securities and collateralised reinsurance.

Mr Bibb will remain as a consultant to CatCo Investment Management Ltd.