After leading the Association of Bermuda Insurers and Reinsurers for 12 years, Bradley Kading is to retire from the position of president and chief executive.

He will be succeeded by John Huff, who is immediate past president of the National Association of Insurance Commissioners in the US. Mr Huff will lead Abir from January 1.

Commenting on the departure of Mr Kading, Kevin O’ Donnell, president and CEO of RenaissanceRe, and chairman of Abir, said: “Since assuming leadership of Abir in 2005, Brad has been a major contributor to the Bermuda reinsurance market’s success.

“He has helped us navigate through a number of political and regulatory challenges around the world. Brad’s trademark integrity, candour and team-oriented approach are truly second to none and have been the foundation of Abir’s success.

“Brad has built a durable organisation at Abir, with a strong team led by deputy director Leila Madeiros poised to continue advocating sound regulatory and policy stances worldwide.”

Noting that Mr Kading helped to make Abir an industry-leading organisation representing public-policy interests of Bermuda’s international property and casualty insurers and reinsurers that protect consumers around the world, Mr O’Donnell added: “We are grateful to Brad for his many contributions to the advancement of our organisation and industry and wish him all the best as he begins this new chapter.”

Mr Huff, as well as previously leading NAIC is a former director of the Missouri Department of Insurance.

Mr O’Donnell said: “For over 25 years, John has been a leader and coalition-builder in our industry.

“He brings a deep understanding of the regulatory, legal, financial and operational challenges faced by insurance and reinsurance companies and the customers we serve. John’s relationships, expertise and leadership skills will be extraordinarily valuable to our members. We are delighted to welcome him to Abir.”

Mr Huff said he was excited to have the opportunity to lead Abir and build on Mr Kading’s “outstanding track record of leadership and service”.

He added: “As a former regulator in the US, the world’s largest insurance market, and as a former insurance and reinsurance executive, I’ve seen first-hand the positive impact that Abir has had on our industry, its member companies and the customers we serve.

“The large loss events of 2017 and the extraordinary response from the Bermuda market illustrates the critical role Abir members play in promoting disaster recovery, economic growth and peace of mind worldwide.

“I look forward to working with the Abir team and our members to continue our efforts to educate policymakers, industry stakeholders and others about our industry and to help foster future opportunities for our members and the clients and communities they in turn serve.”