Global Bankers Insurance Group has announced the appointment of Mike Farley as the company’s chief actuary. Farley replaces Scott Boug, who has been named president and chief actuary of Global Bankers’ Bermuda operations, which include Private Bankers Life and Annuity Co.

Farley has more than 30 years of insurance and reinsurance industry experience. He most recently served as chief financial officer and chief operations officer for Munich Re’s US Health business. Farley also served as CFO and COO for Munich Re’s life reinsurance business.

Prior to joining Munich Re, Farley held various senior roles at other companies, including COO, chief actuary and chief risk officer.

Farley holds a bachelor of science degree from St. John’s University in Minnesota. He is a fellow of the Society of Actuaries, a Chartered Enterprise Risk Analyst and a member of the American Academy of Actuaries.