Horseshoe Group has announced that Fred LeMoine will succeed Nigel Godfrey as executive vice-president of insurance management services.

Mr Godfrey, who is also the group’s CFO, is to retire, effective April 30, 2019, but he will continue to be involved with Horseshoe as a consultant, as well as chairman of the group’s UK operations.

Mr LeMoine joined Horseshoe at the beginning of the year and has over 20 years of successful experience in Bermuda insurance and reinsurance market, including insurance-linked securities.

Before joining Horseshoe, he held senior positions in both captive management and reinsurance/ILS.

Mr LeMoine was most recently CFO and chief operating officer of Aspen Bermuda Ltd, where he served on various executive committees and boards. Before joining Aspen, Mr LeMoine was vice-president and account executive with Marsh Management Services in Bermuda and served as a director on various insurance company boards.

Andre Perez, chief executive officer and founder of Horseshoe Group, said: “I am delighted to welcome Fred to the group. His tremendous depth and breadth of reinsurance industry experience, along with his leadership skills, will be critical strengths, as we continuously strive to add value to the clients we serve and chart our insurance management strategy in the years to come.

“Through the talent of our people, quality of our client service and innovative solutions, Horseshoe is well positioned to realise the next stage of growth and I am confident Fred will contribute significantly to it.”

Mr Perez added: “As difficult as it is for me to see Nigel retire, I am pleased he has agreed to continue being involved with Horseshoe. Looking back 14 years ago, when Nigel and I founded the company, I am reminded of the incredible ride we had.

“Words are certainly not enough to express my profound gratitude to Nigel for his remarkable contribution to the company and our clients. His wisdom, dedication and leadership have been instrumental to the success we enjoy today.

“I wish Nigel the very best in this next phase of his life, as he takes the time to enjoy activities he always wanted to pursue,” Mr Perez added.

Mr Godfrey said: “It has been an incredibly satisfying journey, working all these years with Andre to grow Horseshoe from a two-man shop to an agile and leading global financial services provider.”

• This story has been amended to make clear that Mr LeMoine will be Horseshoe’s new head of insurance management and not its chief financial officer.