2 April 2024news

Independent Management CEO to step down

Bermuda-based Independent Management has announced that chief executive Cyril Whitter is stepping down from his position.

He will be succeeded by Justin Doherty, who has spent more than a decade in the insurance industry and was previously a chartered account at EY.

Whitter leaves “a legacy of strategic vision, unwavering commitment to clients, and a resilient organisational culture”, the company said.

“Under his guidance, IML weathered market fluctuations, expanded its insurance management footprint, and maintained an impeccable track record.”

Doherty was previously legal entity controller at Axis Capital and also worked at Tokio Millenium Re, RenaissanceRe and ABR Reinsurance Capital. Prior to that he worked for EY.

The company said: “His journey comprises various roles at global insurers, which allows him to bring a unique blend of technical acumen and strategic vision. His diverse insurance background enriches our leadership fabric, ensuring a dynamic and forward-thinking organisation.”

A statement said Whitter expressed confidence in his successor and will continue to serve as strategic advisor to the IML management team, on the Board of IML, and will join the board of its parent company.

Doherty said: “I am honoured to lead IML into its next chapter. Our commitment to excellence, resilience, and unwavering client support remains steadfast. Together, we will navigate evolving market dynamics, enhance operational efficiencies, and drive sustainable growth.”

“The board extends its gratitude to Mr Whitter and expresses its confidence in Mr Doherty and looks forward to the exciting journey ahead. Please join us in welcoming Mr Doherty to the IML family,” the company said.

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