As part of his new role, Steer will advise on future acquisition.
Will Bridger, managing director of acquisitions and Mark Lawson, group actuarial director, will jointly take on the role as co-CEOs.
Philipp Kleyser will also be appointed to the company’s German office, serving as a director of its reinsurance subsidiary, Hamburger Internationale Rückversicherung-AG.
Kleyser, who starts on 1 January 2018, joins from EY where, as executive director, he provided transaction and restructuring advisory support for the insurance industry in Germany and Europe.
Steer said: “Next March I will have been with the business for 32 years and CEO for the last nine. During that time, the group has completed 11 company and 27 portfolio acquisitions in 11 different countries across Europe. It has grown to be a well-respected and trusted acquirer of non-life insurance and reinsurance legacy business.”
“I feel now is the right time to step back as CEO and let the team, under new leadership, build on the very stable platform and take the business forward. I look forward to contributing to the continued success of the business in my new role.”