MS Amlin has announced that chief underwriting officer Simon Beale will succeed Charles Philipps as CEO of the (re)insurer following his retirement in April.

Beale will become deputy CEO with immediate effect before taking the helm on 1 April 2018. The carrier said that chief risk officer James Illingworth will replace Beale as CUO, with Martyn Rodden moving up to chief risk officer from the deputy position.

Masahiro Matsumoto, senior executive officer and head of international operations of Mitsui Sumitomo Insurance Company, said: "Simon Beale has the full support of MSI and the MS&AD Group and I am looking forward to working closely with him to develop MS Amlin as a core component of our international strategy."

Philipps retires after nearly 19 years as CEO of the carrier, originally joining Amlin in 1997 as group finance director, before being appointed CEO in 1999. During his tenure, he oversaw Amlin’s £3.5bn sale to Japanese heavyweight Mitsui Sumitomo in 2015.

MS Amlin chairman Shonaid Jemmett-Page added: “We are pleased to have been able to fill these critical roles internally and are confident that, under Simon’s leadership, MS Amlin will maintain its significant status while developing strategically as part of the wider MS&AD Group.

“As CEO for nearly 19 years, Charles built MS Amlin from a Lloyd’s syndicate to an impressive international Group. We wish him a well-earned and happy retirement.”