Hamilton Insurance Group has named Pina Albo as its new CEO, the company has announced.

Albo, who will assume the position on 1 February 2018, succeeds David Brown, who has acted as interim group CEO whilst a search was carried out for a permanent replacement following Brian Duperreault’s departure to become president and CEO of AIG.

She joins following a 25-year tenure at German reinsurer Munich Re, most recently serving as a member of the board of executive management where her responsibilities included P&C business and operations in Europe and Latin America. She worked as a lawyer in Canada, before starting at Munich Re as a claims expert.

Albo has been recognised for her contributions to the insurance industry and has received numerous awards including the Association of Professional Insurance Women's "Woman of the Year" (2011). She was designated a "Top Influencer" in Insurance Business America's List of "Hot 100" (2014) and placed in Intelligent Insurer's list of 'Top 100 Women in Re/insurance" (2014 and 2015).

Hamilton said that Brown will remain on the board, where he is chairman of the finance and governance committee.

“Our search for a new CEO has been robust and thorough, and we were delighted with the very high calibre of candidates we considered,” said Hamilton chairman William Freda.

“In the final analysis, all of us involved in the search were impressed by what Pina will bring to Hamilton: an accomplished career with extensive experience and contacts in the global insurance and reinsurance markets, a dynamic commitment to change in our industry, and a deep understanding of what we’re building at Hamilton,” Freda continued.

Following her departure, Munich Re said that Peter Röder will take over Albo’s role and responsibility for Europe and Latin America whilst retaining his responsibility for Global Clients and North America.

Albo's appointment is subject to immigration clearance.