Just a month after the resignation of eight-year group CEO Demian Smith, global specialty insurer StarStone Group has named a replacement.

Stepping into the hotseat will be John Hendrickson – a 35-year industry veteran. Hendrickson makes the switch from Validus Group where he was director of strategy, risk management and corporate development until its acquisition by AIG in July this year. Hendrickson was also a founder and managing partner of SFRi LLC, an investment and advisory firm focusing on the insurance industry and has additionally spent time at Swiss Re.

“StarStone is at a pivotal point in its development, and I look forward to working with the team here to unlock the potential that exists for StarStone and our clients,” he said. “Despite prevailing pricing, geopolitical and regulatory challenges, StarStone has good fundamentals and opportunities for profitable growth, and we will look to further solidify and advance our global offering while positioning the business for the future.”

“In John, Enstar and Stone Point Capital have identified a proven industry veteran who provides immediate strong leadership and strategic direction to StarStone,” said Enstar chief executive officer Dominic Silvester. “StarStone remains a key part of the Enstar Group, and we are confident in John’s ability to optimise the business moving forward as a distinguished, multi-platform specialty insurer.”