Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations, Carrier Management has reported.
Hamilton Insurance Group issued a short statement noting that Ward – a former reinsurance executive – resigned from his position. But the announcement gave no explanation for his departure.
The company said Bob Deutsch, chief strategy officer, has taken over as acting CEO, and will help lead the search for Ward’s replacement.
A Hamilton Group spokesperson told Carrier Management via email that the company has “the depth in our management to take the time needed to find the right person” to replace Ward.
“This development represents no change in strategy. Hamilton’s US operations remain focused on executing the company’s vision of advancing the science of underwriting through data analytics,” the spokesperson said.
Ward has a long reinsurance history. Before Hamilton USA, he was CEO of Validus Re for a time and previously its chief underwriting officer beginning with the reinsurer’s 2009 launch. He also was an executive vice president of Axis Specialty Ltd., and has held other positions in insurance and reinsurance brokerage and underwriting.
About a year ago, Hamilton acquired Valiant Insurance Co. and Valiant Specialty Insurance Co. from a subsidiary of TIG Insurance Co. as building blocks for its U.S. operations.
As far as Ward’s departure, CEO Brian Duperreault said in prepared remarks that he wished Ward “well in his future pursuits,” and thanked him for “his work in establishing a foundation for the development of our U.S. operations.”
Hamilton USA is the New Jersey based insurance operations for Hamilton Insurance Group, a holding company for insurance and reinsurance operations that underwrite property/casualty risks in Bermuda, the U.S. and at Lloyd’s.
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