Hamilton Insurance Group Ltd has appointed Peter Riihiluoma as senior vice-president, head of specialty reinsurance at Hamilton Re, the company’s Bermudian-based insurance and reinsurance underwriting platform.

He replaces Richard Sammons, who will be leaving the organisation.

The company said this comes as part of Hamilton’s strategic succession planning, demonstrating the company’s commitment to recognising and nurturing exceptional talent within its team.

Mr Riihiluoma’s appointment is effective January 1, and he will report to Hamilton Re chief underwriting officer Tim Duffin.

Hamilton Re chief executive officer Megan Thomas said: “We are thrilled to announce Peter as our new SVP, head of specialty reinsurance.

“He has been an integral part of the Hamilton team and his exceptional skills and insightful market awareness make him the perfect fit to be promoted to this leadership role. We are confident Peter will continue to excel in his new capacity.”

She added: “While we will miss Richard, we respect and support his personal decision to relocate back to the UK later in 2024, and we part on the best of terms.

“He has been an invaluable member of the Hamilton team, having built the specialty reinsurance practice when he joined nine years ago.”

The company said Mr Riihiluoma has held underwriting, pricing and portfolio management responsibilities across a diverse portfolio of specialty reinsurance lines since joining Hamilton in 2019 as vice-president, specialty reinsurance.

Prior to Hamilton, he was with Chubb for nine years, most recently as vice-president, ceded reinsurance in Minneapolis.

Mr Riihiluoma is a Fellow of the Casualty Actuarial Society.