13 March 2015News

Beachwood Re launches Bermuda affiliate

Life reinsurer Beachwood Re has launched a Bermuda-based affiliate, Beachwood Bermuda International.

The office will support both Beechwood's reinsurance business that provides capacity to life, health, and annuity insurance companies and Beechwood's wealth management business that offers direct-written investment products to global (non-US) investors.

Graham Mackay will manage the new office as chief operating officer and head of underwriting. In this role, Mackay will be responsible for key operating functions of the company and the underwriting and management of reinsurance transactions written into Bermuda.

He joins Beechwood from Ernst & Young, where he led the life reinsurance practice serving clients in Bermuda, the Cayman Islands and the U.S.

Prior to EY, Mackay held senior management and technical roles with global reinsurers including Mercantile & General Reinsurance, Lincoln Reinsurance, ING Reinsurance, Imagine Re, and Duncanson & Holt.

David Lessing, executive vice president of Beechwood, said that the new office “represents an important next step in Beechwood's commitment to offering unique solutions for our clients. It allows us to more effectively leverage the world-class infrastructure and expertise available in Bermuda."