A former insurance regulator from the United States and a Bermudian-based business and community leader have been appointed to the board of directors of Hamilton Insurance Group Ltd.

Therese Vaughan is a former chief executive officer of the US National Association of Insurance Commissioners, and Neil Patterson is the retired chairman of the KPMG group of entities in Bermuda.

Mr Patterson will also serve as chairman of the audit committee. The appointments become effective today.

At the same time, Pauline Richards, current chairwoman of the audit committee, will retire from the Hamilton board following ten years of service.

Hamilton board chairman David A Brown said: “It is my privilege to extend a warm welcome to our newest board members.

“Their expertise and diverse perspectives will be instrumental as we continue to drive value for our clients and shareholders as a newly public company.

“As we celebrate our company’s ten-year anniversary, I extend my heartfelt gratitude to Pauline for her many contributions over the past decade as one of Hamilton’s longest-serving directors.”

Hamilton chief executive officer Pina Albo said: “I am thrilled to welcome Terri and Neil to our company’s esteemed board of directors.

“Their wealth of experience and keen intellect will further enrich our board’s already robust discussions and be invaluable as we continue to expand our business and relationships.”

The company said Dr Vaughan is a seasoned educator, corporate director, and internationally recognised expert in insurance regulation.

She served more than ten years as Iowa Insurance Commissioner, the state’s longest-serving and first female in the post.

Dr Vaughan represented the US insurance regulatory system internationally as a member of the executive committee of the International Association of Insurance Supervisors and of the steering committee for the US/EU Insurance Dialogue Project.

She chaired the Joint Forum, a Basel, Switzerland-based group of banking, insurance, and securities supervisors.

Dr Vaughan recently served as a director of AIG, and is on the board of Verisk Analytics, Wellmark Blue Cross and Blue Shield, WestBank, and the Food Bank of Iowa.

Mr Patterson spent the majority of his career with KPMG, having joined the firm in 1989.

He was a client-facing lead audit partner for more than 20 years through his retirement in 2020.

He also served as the Risk Management partner in Bermuda for over 20 years and the Risk Management partner for the sub regional firm for 15 years.

Mr Patterson was office managing partner in Bermuda for nine years before taking on the role of chairman.

He also served as the managing partner of the regional firm The KPMG Islands Group, where he was also a member of the board for the European, Middle East and Africa firm.

Mr Patterson was a member of the Global Insurance Advisory Group, a sub-committee of the global board that advises on insurance matters affecting member firms around the world.

He cofounded both Ignite Bermuda, the island’s first privately-funded business incubator and accelerator, and Bermuda Investor Community, designed to enhance the flow of capital from angel investors into the island’s entrepreneurial community.