Elaine Whelan, the Chief Financial Officer (CFO) of Lancashire Group and executive director and Chief Executive Officer (CEO) of Lancashire’s Bermuda-based subsidiary, Lancashire Insurance Company Limited, is to retire from the company in 2020.
She will continue her roles through the remainder of 2019 and the 2019 financial year-end process, with plans to step down from both positions at the end of February, 2020. Lancashire notes that following her departure, Whelan will remain available to assist with transition in the finance department for some months after.
The specialty insurance and reinsurance firm has also announced that it will be conducting a selection process to appoint a new Group CFO, with a further announcement to be made once that has completed.
Lancashire has, of course, got its own specialist insurance and reinsurance linked investment manager Kinesis Capital Management, which offers a multi-class, specialty and property catastrophe focused product, which is used as retrocession by major reinsurance firms.
Lancashire’s Chairman, Peter Clarke, commented, “Elaine joined Lancashire in 2006, became the Group CFO at the beginning of 2011 and an executive director on our Board in early 2013. Her drive, dedication and insight have helped contribute to the growth and development of our business and she has made an exceptional contribution to Lancashire’s success over many years.
“We look forward to working with Elaine over the coming year and we are pleased that Elaine will be assisting the Board in implementing an orderly succession process for the Group CFO role. I join my Board and senior management colleagues in wishing Elaine well for her life post Lancashire.”
Whelan, added, “I have enjoyed the many challenges and savoured the successes we have achieved at Lancashire in my time with the business. It has been a tremendous experience and I have had the opportunity to work with some amazing people. While I will miss that a great deal, personally the time has come for a change and my retirement from Lancashire gives me that.
“In particular I would like to thank my fantastic finance team and the Bermuda office for their continuing hard work and contribution to the success of Lancashire, and I wish the Group and all our staff well for the future.”
We’re returning to Singapore for our fourth annual ILS market conference for the Asia region. Please register today to secure the best prices. The last few Early Bird tickets are still available.