The Bermuda-domiciled White Mountains Insurance Group’s board of directors has elected Stephen Klar as a director.

Mr Klar was formerly the president and a managing partner of Wellington Management Group.

Chief executive Liam Caffrey said: “We are delighted to welcome Steve to our board of directors. His extensive experience in the financial services industry will greatly benefit our owners.”

Mr Klar said on his LinkedIn page that after 22 years he has retired from Wellington.

“I am excited to pass the baton to the next generation of leaders,” he said. “What I feel most is gratitude. Gratitude for the privilege of working alongside remarkable clients on missions that matter; helping millions of beneficiaries secure retirements, pursue education, advance research and build institutions that endure.”

He said as he steps into the next chapter he will be cheering for Wellington and all its clients.