Jose Vazquez will join Direct Line Group next week as chief risk officer with a brief to further develop the companys overall risk strategy and capability as it prepares for divestment.
Mr Vazquez was most recently global chief risk officer at HSBC Insurance Holdings, where he had responsibility for the group chief actuary. Previously, he held senior actuarial roles at Zurich Financial Services.
His arrival on March 5 means that Sheree Howard, Direct Line Group's current chief risk officer will take on the role of managing director for Solvency II and executive projects.
She will remain a member of Exco. Her responsibilities will include Solvency II and the framework for managing risks driven by the separation and divestment from Royal Bank of Scotland Group.
Both Mr Vazquez and Ms Howard will report to chief executive officer Paul Geddes.