Kate Subak has been appointed chief executive of HSBC Insurance (Bermuda) and HSBC Life (Bermuda).

She will manage the operations of all HSBC’s insurance entities in Bermuda, spearhead the execution of the high-net-worth insurance strategy and lead the end-to-end delivery of captive reinsurance services to global life insurance and corporate units.

Ms Subak will report directly to Winnie Ching, the global chief product and in-force officer, Insurance, HSBC Group.

HSBC said: “Kate brings with her a wealth of experience across Insurance, digital transformation and management consulting. Most recently, she served as chief operating officer at Sun Life International in Bermuda, overseeing IT, insurance, and wealth operations.

“During her tenure at Sun Life, she also led key initiatives in digital marketing, user experience and sales enablement.

“Previously, Kate held senior roles at McKinsey & Company and Salomon Brothers, building an impressive track record in leadership and strategy.”

Ms Ching commented: “Bermuda plays a crucial role in optimising insurable risks retention within the group and in strengthening HSBC Life's ability to deliver holistic and international wealth solutions to our customers.

“We are confident that with Kate’s experience in leading transformation and managing multidisciplinary teams, we can bring the Bermuda operations into our core growth engine and deliver more value to our internal and external insurance clients.”