The Blackstone Group has brought in an insurance specialist as a senior adviser in its private equity group as it invests its latest $15.6bn (€12.4bn) fund.

John Cavoores was previously chief executive of OneBeacon Insurance Group, a subsidiary of Bermuda-based insurer White Mountains. He was also president and chief operating officer of National Union Insurance Company, a specialty unit of US insurer American International Group. He first broke into insurance at Chubb, where he served as managing director in charge of operations outside of the US and chaired the Chubb Insurance Company of Europe.