Bermuda-based Hamilton Insurance Group has appointed a new director.

Joan Lamm-Tennant is global chief economist and risk strategist at Guy Carpenter, but is moving to be CEO of a microinsurance venture incubator launched at this year’s World Economic Forum in Switzerland by a consortium of insurance companies that includes Guy Carpenter and Hamilton.

Hamilton Insurance Group CEO Brian Duperreault said: “She is a revered business executive, an accomplished scholar and a global thinker.

“Her passion for innovation matches the strategic focus of Hamilton Insurance Group and I am delighted to have her with us.”

New York-based Ms Lamm-Tennant holds a PhD in finance and investments from the University of Texas in Austin, as well as an MBA in finance from St Mary’s University, San Antonio, Texas.

She is on the faculty of the Wharton School at the University of Pennsylvania in Philadelphia and holds the Laurence and Susan Hirsch adjunct chair in international business.

She won the 2013 insurance woman of the year award from APIW, set up to advance women in the industry and the year before was awarded the International Insurance Society’s Kenneth Black Award for service and commitment to the global insurance industry.

Ms Lamm-Tennant said: “I’m excited about this rare opportunity to work with esteemed insurance and investment leaders who are building a company positioned to excel in and define a new market environment.”

Hamilton Insurance Group, which has more than $1 billion in capital, owns Bermuda reinsurance firm Hamilton Re and Hamilton USA, which includes two insurers based in Delaware, Hamilton Insurance Co and Hamilton Speciality Insurance Co.