Richard Tolliday replaced following boardroom battle
Omega Insurance Holdings has appointed Richard Pexton as its new chief executive, replacing Richard Tolliday.
Following the conclusion of a bruising boardroom battle last week, the Bermuda based insurer announced today that Pexton, who is former chief executive of Heritage Underwriting Agency, will take over with immediate effect. Pexton resigned as chief executive of Heritage in December 2008.
Tolliday has also ceased to be a director of Omega.
Last week, Omega’s board was overhauled following a special general meeting which saw the appointment of six new directors, which was backed by the company’s biggest investor Invesco.
John Coldman, the newly chairman of Omega, said: "Richard Pexton is a highly experienced industry professional with a proven track record of managing and developing insurance businesses. Richard and I will bring stability and leadership to the Omega team."
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