UK-based Barbon Insurance has appointed Mike Ramsey as its new chief executive officer to replace Martin Oliver, effective from June 2012.

Ramsey previously served as chief executive officer of life, accident & health Europe division of CIGNA.

He also held chief executive and senior executive roles with American Express, Aegon and AXA.

Barbon chairman Tim Redburn said: "We are delighted to welcome someone of Mike’s calibre to Barbon. His exceptional background in the insurance and financial services sectors where he has led and grown a number of high profile businesses will be a major asset to the group."

Ramsay said: "I am excited at the challenge ahead and look forward to leading Barbon in the next phase of its development."

The appointment of Ramsey is subjected to regulatory approval by Financial Services Authority.

Oliver resigned from Barbon to join Allen & Allen (A&A) Group as its UK chief executive officer.