Bermudian-based R&Q Insurance Holdings Ltd, the non-life global specialty insurance company focusing on programme management and legacy insurance businesses, has appointed Jeff Hayman as non-executive chairman.

The company said Mr Hayman’s extensive industry experience makes him well placed to lead the board.

He has spent nearly 40 years in the insurance industry with long tenures at The Travelers and American International Group, including as CEO of Global Consumer Insurance and president & chief executive officer of AIU Far East Holdings.

Mr Hayman was recently a board member and committee chair of Zurich Insurance Group Ltd.

Following his appointment, William Spiegel will assume the role of group CEO and Alan Quilter, R&Q’s current chief executive, will work exclusively with the programme management teams in the US and UK/Europe before retiring at the end of December.

Mr Spiegel said: “As we announced last year, we started a search for a non-executive chairman in order to have a governance structure that is more aligned with best market practice.

“In Jeff Hayman we have identified an outstanding candidate given his highly relevant experience that includes board roles in the US, Europe and Asia, and executive and leadership roles with AIG and Travelers. I am excited to work closely with Jeff and look forward to his contributions to the board.”

He added: “As a co-founder, Alan has been instrumental in the growth, evolution and success of R&Q over the last 30 years.

“Most recently, he has played an important role in the expansion and development of our leading programme management business.

“On a personal level, I have greatly valued Alan’s partnership, collaboration and experience. I am delighted he will remain with us for the remainder of 2023, ensuring a smooth transition before his very well-deserved retirement.”