Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations.

Hamilton Insurance Group issued a short statement noting that Ward – a former reinsurance executive – resigned from his position. But the announcement gave no explanation for his departure. Hamilton Insurance Group Chief Strategy Officer Bob Deutsch has taken over in the interim as acting CEO, and will help lead the search for Ward’s replacement.

A Hamilton Group spokesperson told Carrier Management via email that the company has “the depth in our management to take the time needed to find the right person,” to replace Ward.

“This development represents no change in strategy. Hamilton’s US operations remain focused on executing the company’s vision of advancing the science of underwriting through data analytics,” the spokesperson said.

About a year ago, Hamilton snatched up Valiant Insurance Company and Valiant Specialty Insurance Company from a subsidiary of TIG Insurance Company as building blocks for its U.S. operations.

As far as Ward’s departure, CEO Brian Duperreault said in prepared remarks that he wished Ward “well in his future pursuits,” and thanked him for “his work in establishing a foundation for the development of our U.S. operations.”

Ward has a long reinsurance history. Before Hamilton USA, he was CEO of Validus Re for a time and previously its chief underwriting officer beginning with the reinsurer’s 2009 launch. He also was an executive vice president of Axis Specialty Ltd., and has held other positions in insurance and reinsurance broking and underwriting.

Hamilton USA is the New Jersey based insurance operations for Hamilton Insurance Group, a holding company for insurance and reinsurance operations that underwrite property/casualty risks in Bermuda, the U.S. and at Lloyd’s.

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Source: Hamilton Insurance Group