Treaty Reinsurance
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The executive, previously vice chairman, will continue as a member of the company's executive committee.
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John Welsh will become international markets chief at the start of next year.
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The executive was responding to questions over $26.4mn of reserve strengthening carried out by the insurer in the second quarter of the year.
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The executive said the carrier is moving towards “balance between underwriting and investment”.
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The round was led by Anthemis and included WR Berkley, Nephila Capital and Markel.
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This publication revealed that Simon Mills and Fraser Howard had left JLT Re earlier this year to join Lockton Re.
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Natural catastrophes accounted for 2.6 percentage points of the average reported combined ratio of global reinsurers in the first half of the year.
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The former JLT Re executive takes a managing director role at the new operation.
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Global CEO Kent reports a "positive direction of travel".
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The Insurance Insider provides a snapshot of the state of play as the storm crawls through the Bahamas.
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However, analysts said there was more capital waiting on the sidelines to enter the turning market.
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The slow pace of the hurricane means heavy flooding could trigger the US National Flood Insurance Program.
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