Argus Group Holdings Limited has named insurance industry veteran David A. Brown as its next chairman of the board. He will succeed Sheila Nicoll, who has served as chairwoman since 2010.

Mr Brown’s appointment will be effective April 1.

Ms Nicoll, who has been a member of the board for 15 years, said: “Over my years as chairman, the board has strongly promoted strategies to enhance future growth, diversification and resilience of earnings.

“To support these strategies, Argus has in place a robust process for identifying the skills and experience necessary to help drive them forward. We also use this process for board and chairman succession planning. We welcomed David as a member of the board a year ago and are pleased that he will now become chairman. He comes with a wealth of experience having run a number of insurance companies and having served on the boards of several more.”

Mr Brown said: “Argus is a company with great potential and has been undergoing some serious adjustments related to the changing healthcare system in Bermuda and the company’s expansion internationally. This makes the work of the board both challenging and interesting for directors like me. The management team is energetic and has been creative in developing ideas to grow its business overseas and to deal with the necessary adjustments in the healthcare and pension businesses.”

Alison Hill, chief executive officer of the Argus Group, said: “From the beginning, we were impressed with his [Mr Brown’s] focus on supporting and challenging management to deliver growth and long-term sustainable value for our shareholders.

“Argus finds itself at a pivotal point. It is vital that we have someone at the helm who complements our strong board with experience and capabilities that match our ambitious strategy, whilst being true to our culture. David has a valuable set of skills and insights: he has been a partner in an accountancy firm, a CEO and a Chair. He has led global insurance and reinsurance businesses, is an entrepreneur and is a well-respected and well-connected community advocate”

Ms Hill added: “The stage is set for us to grow, diversify and deliver progressive solutions for the ever-changing needs of our rapidly expanding client base. With his appointment as the Argus Group’s chairman, David’s unique set of skills and strong belief in our mission will enable him to play a key role in moving our strategies and initiatives forward.”