Conduit Holdings’ chief financial officer and executive director has announced her intention to retire.

Elaine Whelan will continue serving in her current roles to ensure a smooth transition until she steps down from the board and her executive role on September 30.

Conduit Holdings is the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurer.

“The board has commenced a formal process to identify a successor, and further updates will be provided in due course,” Conduit said in a statement.

Ms Whelan is based in Bermuda and responsible for all aspects of Conduit’s financial management and reporting.

She also serves as an executive director on the boards of Conduit Holdings and Conduit Reinsurance and is a member of the executive committee.

She joined Conduit Re as CFO in 2021, after 14 years with Lancashire Group. Half of her time at Lancashire was spent as executive director of the firm’s board.

Conduit Holdings was still a start-up when she joined the team. The first year Ms Whelan was on the team, the firm wrote $160 million of gross premium during the January 1 reinsurance contract renewal season.