Robert (Bob) Myron is to retire as president and chief operating officer of Bermudian-based James River Group Holdings Ltd.

Making the announcement, the insurance holding company said Mr Myron will retire effective July 31 for health reasons related to lingering effects of Lyme Disease.

The company and Mr Myron expect to maintain a consulting relationship through December 31.

Mr Myron has spent more than 11 years with the organisation.

Frank D’Orazio, the company’s chief executive officer, said: “I’d like to thank Bob for his numerous contributions to the company. He has led operations at every level of the company, including as CEO and as a member of the board of directors.

“Throughout his distinguished tenure at James River, Bob has demonstrated outstanding leadership and dedication to the organisation, and the foundation he has laid will remain a key factor in our continued success.

“Bob has been a valuable partner and resource for me and I know I speak for the entire James River Group in wishing him the very best in his retirement.”

Mr Myron said: “I’d like to thank the company and its board of directors for supporting me throughout my tenure at James River.

“The company is in great hands under Frank’s strong leadership and the capabilities of the senior management team.

“Going forward, I have every confidence in James River’s ability to flourish in the markets it serves and continue to build long term value.”

James River Group Holdings, Ltd is an insurance holding company which owns and operates a group of specialty insurance and reinsurance companies.

The company operates in three specialty property-casualty insurance and reinsurance segments: excess and surplus lines, specialty admitted insurance and casualty reinsurance.