Three new non-executive directors are joining island company International Financial Group Limited (IFGL).

Matt Cuhls will become the independent chair of the wealth solutions firm, while Nick Verardi will become an independent non-executive director on the IFGL board and independent chair of the Friends Provident International Board and Katherine Garner will take on the role of independent chair of the RL360 board.

The changes will come into effect on June 1, following the retirement of Peter Horsthuis, who will step down from his role as independent chair of the IFGL board.

Sean Dowling is also stepping down as an independent non-executive director of IFGL but will stay on as an adviser to the IFGL, FPIL and RL360 boards, independent chair of the Ardan board and independent chair of the IFGL global trust board.

Mr Cuhls is a seasoned insurance professional with more than 25 years in the industry within the UK and across Europe.

A chartered accountant, Matt began his career with KPMG before spending over 20 years with the UK focused life assurance consolidator ReAssure, including nearly 10 as chief risk officer and more than 10 years as chief executive/managing director.

Following ReAssure’s acquisition by Phoenix Group Holdings in 2023, he moved into a non-executive career, and currently has a portfolio of non-exec positions.

He said: ‘I’m delighted to be joining IFGL at this juncture to support incoming IFGL chief executive Rob Allen and his senior team.’

Mr Verardi has more than 30 years of experience in corporate law, specialising in insurance and mergers and acquisitions.

His career spans senior leadership roles in the legal and financial sectors, including his tenure as a partner at leading law firms and his instrumental role in the 2009 merger of Appleby Global with Dickinson Cruickshank, where he later served on the global management board.

In addition to his corporate career, Nick has contributed significantly to the business community, having served as chairman and president of the Isle of Man Chamber of Commerce and as a member of the Isle of Man Financial Strategic Partnership.

He said: ‘I am honoured to join the board of IFGL and Friends Provident International at such an exciting time in its journey.

‘The company has built a strong reputation for delivering innovative and secure life insurance solutions, and I look forward to working with my fellow board members and the leadership team to support its continued growth and success.’

Ms Garner is an experienced non-executive director, chief executive and chief financial officer with more than 30 years’ experience within the insurance and investment industry.

She is a Fellow of the Institute and Faculty of Actuaries and spent her early career with HSBC culminating in various leadership roles including finance director and Head of Life Insurance for their Dublin-based international offshore business.

Katherine joined Sun Life Financial of Canada in the UK in 2008 and was CFO prior to serving as CEO for 11 years. She now has a portfolio of non-executive roles and brings technical expertise in life assurance, financial management, regulatory engagement and risk management.

She said: ‘I am excited to join RL360 and IFGL to support the future growth and success of the group, for the benefit of our shareholders, customers and employees.’