Company co-founder Peter Mullen has rejoined alternative risk management solutions provider Artex as chief executive officer, replacing fellow cofounder David McManus who has assumed the new role of non-executive chairman.

Mr Mullen, Mr McManus and Jennifer Gallagher, president of Artex North America, founded Artex in 1997.

Mr Mullen spent more than 20 years with Artex and its parent company, Gallagher, before leaving in 2011 to become chief executive officer of Aon Captive and Insurance Management. He began his career as an insurance broker in Dublin before moving to AIG in Bermuda.

In 2016, Mr Mullen topped Captive Review magazine's Power 50, a ranking of the most influential individuals in the captive insurance industry, the company said.

Mr McManus said: “I am thrilled to welcome Peter back to Artex and excited for what the future holds under his leadership. Innovation is at the core of his talents and is the foundation of our company.

“I'm confident that this innovation, together with Peter's fresh perspective and energy, will drive Artex to even greater success in the years to come.”

Artex is one of the largest insurance managers in the world, the company said, with 1,500 customers through more than 1,000 risk-bearing entities. The company, licensed in 32 jurisdictions, has more than 400 employees in 15 offices worldwide.