Specialty insurance and reinsurance group Lancashire Holdings has announced that its Group Chief Financial Officer (CFO) Elaine Whelan plans to retire during the course of 2020.
She will continue in her role as Group CFO throughout 2019 and the financial year end process, and will step down from this role and from her executive directorship of Lancashire at the end of February 2020.
Lancashire said that it will shortly begin conducting a process to identify a successor to Whelan, who will remain available to assist with transition in the finance department for several months after her departure.
Whelan joined Lancashire in 2006, becoming Group CFO at the beginning of 2011 and then an Executive Director on the company’s Board in early 2013.
She previously served as Chief Accounting Officer at Zurich Insurance Company, Bermuda Branch, before which she was an Audit Manager at PricewaterhouseCoopers (PwC), also in Bermuda.
She spent four years in her role at PwC between 1997 and 2001, managing a portfolio of predominantly re/insurance and captive insurance clients.
“I join my Board and senior management colleagues in wishing Elaine well for her life post Lancashire,” said Peter Clarke, Chairman at Lancashire.
“Her drive, dedication and insight have helped contribute to the growth and development of our business and she has made an exceptional contribution to Lancashire’s success over many years,” he continued.
“We look forward to working with Elaine over the coming year and we are pleased that Elaine will be assisting the Board in implementing an orderly succession process for the Group CFO role.”
Whelan also commented: “I have enjoyed the many challenges and savoured the successes we have achieved at Lancashire in my time with the business. It has been a tremendous experience and I have had the opportunity to work with some amazing people.”
“While I will miss that a great deal, personally the time has come for a change and my retirement from Lancashire gives me that,” she added.
“In particular I would like to thank my fantastic finance team and the Bermuda office for their continuing hard work and contribution to the success of Lancashire, and I wish the Group and all our staff well for the future.”
