Hiscox has appointed a new interim chair, after the death of its former chair Jonathan Bloomer was confirmed yesterday.

Colin Keogh, a senior independent director at the insurance group, will assume the role, the company said on Friday.

Mr Bloomer died aboard the superyacht Bayesian earlier this week alongside his wife, Judy.

The couple were aboard the vessel which sank off the coast of Sicily earlier this week, along with technology mogul Mike Lynch, who also died.

In a statement on Thursday, Hiscox chief executive Aki Hussain said: “We are deeply shocked and saddened by Jonathan and Judy’s tragic deaths.

“Our deepest sympathies go out to their family and friends at this devastating time.

“It was a privilege to have known Jonathan and to have benefited from his generosity and wisdom over the last year in his role as chair of Hiscox.

“His deep experience across our industry and in the broader business arena, combined with his personal values, made him both an excellent chair and a person I was proud to know and work with.

“His advice and support were immensely valuable to me, and he will be dearly missed.”

Mr Bloomer was a boardroom veteran with a career in the finance sector spanning 50 years.

He was also chairman of banking giant Morgan Stanley’s international operations.

Mr Bloomer had interests in sailing, rugby and music, and was also a member of the finance committee of UK children’s charity NSPCC.

Mr Keogh, who assumes the role at Hiscox on an interim basis, spent 24 years working for Close Brothers.

He was chief executive of the merchant banking giant from 2002 until 2009. He is also a non-executive director at Virgin Money, and at investment group M&G.

Mr Keogh has served as a non-executive director at Hiscox for nearly nine years, taking on the role in 2015.