Conduit Holdings has officially named Neil Eckert as its new chief executive, following his interim leadership of the Bermudian-based reinsurer since March.

Mr Eckert, a cofounder of Conduit Re, stepped in temporarily after the retirement of Trevor Carvey, the former chief executive.

His appointment was confirmed after a formal search process supported by an independent executive recruitment firm.

“I am delighted and honoured to accept the CEO role on a permanent basis,” Mr Eckert said.

“I look forward to continuing to work with the strong team at Conduit Re to deliver value to our investors, and to navigate through the inevitable challenges and opportunities that will come to Conduit Re in the years ahead.”

Rebecca Shelley, Conduit’s senior independent director, has been named interim chair while the board searches for a permanent replacement.

She described Mr Eckert as “deeply committed to Conduit since its inception” and praised his “wealth of experience, strong leadership and intimate knowledge of the business”.

Ms Shelley added: “We are confident that Neil and the executive team will deliver on Conduit's objectives to generate value for shareholders.”

Ken Randall will take on the role of senior independent director during the transition. The board has engaged executive search firm Sainty Hird to assist in the ongoing search for a new chair.

Mr Eckert’s appointment as chief executive is still subject to immigration approval in Bermuda.