Hamilton Insurance Group, an insurance firm headquartered in Bermuda, is opening new offices in London to support its growth in the Lloyd’s market.
Deputy Premier of Bermuda and Finance Minister, the Honourable ‘Bob’ Richards, MP, will join group chairman and chief executive officer (CEO) Brian Duperreault and Hamilton at Lloyd’s CEO Dermot O’Donohoe later today (May 12) at a cocktail party to officially open Hamilton’s expanded presence in the Aviva Building on 1 Undershaft.
In April 2015, the re/insurance firm acquired a niche sports underwriting managing agency, renamed Hamilton Underwriting, and Syndicate 3334, in a move to establish a diversified platform at Lloyd’s.
Under the brand Hamilton at Lloyd’s, Syndicate 3334 now writes seven classes of business: accident and health, contingency, financial institutions, property direct and facultative, professional indemnity, space and treaty insurance.
O’Donohoe has recruited a team of insurance professionals in the last 12 months. This includes: Trevor Carvey, active underwriter and head of treaty, formerly of Markel Europe; Stuart Quinlan, deputy active underwriter and head of professional lines, former head of specialty at Barbican; and Adrian Daws, deputy active underwriter and head of specialty, formerly of Hardy.
O’Donohoe’s expanded executive management team also includes Simon Barrett, chief financial officer, and Alex Baker, chief actuary and chief risk officer.
“When we launched Hamilton in December 2013, we had three key objectives,” said Duperreault. “These were to develop our acquired reinsurance eoperations in Bermuda; to establish a platform at Lloyd’s; and to launch an insurance brand in the United States – all of which would leverage the outstanding analytical capabilities of our technology and investment partners, Two Sigma, to create a new way of doing business.
“I am delighted to say that with our new office here at Lloyd’s and the joint venture we announced last week with AIG and Two Sigma, Hamilton will be delivering on all fronts.”
He added: “I congratulate Dermot and his team for the impressive progress they’ve made in building a diversified platform at Lloyd’s in such a short space of time. Their new offices are a fitting testament to all they’ve achieved.”
O’Donohoe added: “I am most grateful for the hard work of everyone at Hamilton at Lloyd’s. Our 45 employees coordinated multiple work streams in offices designed to accommodate a handful of staff. Working with our partners at Lloyd’s, their efforts resulted in Hamilton at Lloyd’s being fit for purpose and ready to write business as of 1st January, 2016.
“Our staff’s dedication to Hamilton’s vision is the reason we are where we are today, and why I am so optimistic about our future growth prospects.”
Hamilton Insurance Group, New office, Insurance, Lloyd's, London, UK, Bermuda