Hamilton exits London property treaty reinsurance

Hamilton Insurance Group has decided to cease writing property treaty reinsurance through Syndicate 4000 in London.

“We regularly review our book to ensure that we continue to drive underwriting profitability in line with Hamilton’s strategy of building a global, diversified specialty insurance and reinsurance company,” said Adrian Daws, CEO, Hamilton Managing Agency Limited, on Thursday. 

“This decision allows us to reduce volatility in our Lloyd’s business and focus on writing specialty niche products.”

The company will continue to write property treaty reinsurance out of Bermuda, it added, “consolidating our peak peril catastrophe reinsurance underwriting into one hub”. It will also continue to support US regional property reinsurance business through a US-based team.