White Mountains posts Q1 profit, unveils Outrigger Re
Bermuda-registered White Mountains Insurance Group has appointed the former chief executive officer of insurer Alleghany Corporation as its new chairman.
Weston Hicks (pictured), who was CEO of Alleghany from 2004 to 2021, replaces Morgan Davis, who has retired after serving as chairman for six years and as a director for 17.
Hicks said: "I am honoured to assume the chairmanship of this unique and wonderful company. The entire board thanks Morgan for his leadership as our chairman for the past six years, for his 17 years of service as a director, and for the tremendous value he has created for owners across many roles and over many decades, from Fireman's Fund to the present."
Manning Rountree, chief executive officer, added:, "For the past 20 years, Morgan has been a valued and trusted partner and a mentor to me. I will miss his wise counsel, common sense and good humour, and I extend my deepest gratitude and appreciation. We wish Morgan and his wife Sandy all the best in the future."
Rountree added: "The Board and the management team look forward to working with Weston in his expanded role. Weston is a perfect fit for White Mountains with his broad experience and deep understanding of all aspects of our business."
Hicks joined Alleghany Corporation as an executive vice president in 2002. During his time as CEO, he built Alleghany, now a subsidiary of Berkshire Hathaway, into a leading specialty insurance and reinsurance company with a complementary private equity business.
Prior to joining Alleghany, he was chief financial officer of the Chubb Corporation and previously worked in a variety of financial services companies.
Davis was managing director of White Mountains subsidiary OneBeacon from 2001 to 2005 and was previously a director of Intact Financial and Bermuda-based Endurance Specialty Holdings, now part of Sompo International.
White Mountains, Retirement, Morgan Davis, Appointment, Weston Hicks, Leadership, Insurance, Reinsurance, Bermuda