Reinsurance-linked investment specialist Catco Investment Management Ltd has appointed a new chief operating officer.

Ly Lam is to move from Bermuda-based Aspen Insurance Holdings, where she has been chief financial officer for the company’s reinsurance arm for the last four years. Her appointment is effective March 2.

Catco CEO Tony Belisle said that the company had grown since it was formed more than five years ago.

He added: “Catco was seeking a chief operating officer with significant reinsurance experience, not only in financial management, but also in reinsurance product development.

“Ly has the requisite experience and an excellent reputation within the reinsurance market and I am delighted she has agreed to join Catco.

“Working alongside the existing team, Ly will play a key role in assisting with the next stage of Catco’s development.”

Ms Lam said: “This is an exciting time to be joining the company and I look forward to contributing to Catco’s further success.”

Ms Lam, a chartered accountant, worked at Aspen for a decade and before that spent more than nine years at financial services firm PwC.

She replaces Jason Bibb, one of the founders of Catco, who resigned in December last year to return to his native UK.