A major insurance and reinsurance firm has appointed a new CEO.

Steve Arrowsmith, executive chairman of JLT Insurance Management (JLTIM), will take over as chief executive officer from Kilian Whelan, who is leaving the firm to “pursue other interests”.

Mr Arrowsmith has more than 16 years of insurance, accountancy and management experience in the insurance markets of Bermuda and London.

He joined International Risk Management in Bermuda after training at London financial services firm Cooper & Lybrand, where he held a senior management position.

Richard Daley is to step up from partner and vice president to become president of the firm.

Mr Daley joined JLTIM in 2005 from Bermuda-based Aon Insurance Managers, where he was assistant vice president.

Melissa O’Sullivan will take over as executive vice president of the company and chief financial officer of the JLTIM group in Bermuda.