Joseph Barrowclough has been appointed president of Bermuda reinsurance at US insurance and investment firm Prudential Financial Inc.

In the role, he will oversee Gibraltar Re and Lotus Re, PFI’s two Bermudian-based reinsurance companies and focus on achieving continued growth.

Gibraltar Re and Lotus Re act as internal reinsurers, underwriting longevity and asset risk from US and Japanese pension and annuity businesses.

Mr Barrowclough has worked for PFI for nearly three years, having joined the Bermuda platforms in 2023. During this time he has served as chief actuary, and more recently as chief financial officer.

“We have an ambitious road ahead as we refine our capabilities and grow the business, and I am fortunate to be supported by a truly excellent team in doing so,” Mr Barrowclough said.

“I am very much looking forward to the challenge and the journey ahead.”

Before joining PFI, Mr Barrowclough spent a decade at St James’s Place Wealth Management, where he held several positions.