Fidelis Insurance has announced a new chief investment officer.

Laurent Jeanmart will replace Ed Russell and report to Neil McConachie, the group chief financial officer.

Mr Jeanmart said: “Fidelis has advanced rapidly since its formation and its very exciting to be joining the business at such a significant stage in its development.

“The company’s innovative model of optimising both the underwriting and asset sides of the balance sheet is a significant differentiator and I look forward to working with Fidelis’ leadership team to help the business grow.”

Mr Jeanmart, who will be based in London but will visit Bermuda regularly, has more than 16 years of experience in the financial services markets and joins Fidelis from Platinum Capital Management.

He has previously held senior positions at Sigma Wealth, GLG Partners, Lazard and BNP Paribas.

Mr McConachie said: “I’m delighted to welcome Laurent to Fidelis — he has a wealth of expertise across the financial markets and a track record of providing businesses with robust investment strategies and will play a key role in our continued development.

“I would also like to thank Ed for his contributions in establishing our investment programme during our initial year and to wish him the very best for the future.”

Fidelis, headquartered on Pitts Bay Road, Pembroke, is a privately-owned firm which is a global provider of insurance and reinsurance in various sectors through its subsidiaries.