Barbican Insurance Group has expanded its U.S. property offering with the launch of a new Bermuda unit to underwrite direct and facultative portfolio of business on an excess and surplus lines basis with a focus on the U.S. property market.
The Barbican Bermuda team will concentrate on Fortune 1000 corporations as well as middle-market organisations, underwriting all business in the U.S., led by Nik Lucking, who’s been appointed head of direct and facultative, Bermuda.
Lucking said; “through Barbican Bermuda, we are able to extend the reach of Barbican’s property division in London and strengthen our US direct and facultative market proposition. From Bermuda, we are able to bring the security of the Lloyd’s market to an even broader spectrum of organisations, introduce greater diversity into our property portfolio and benefit from the stability that this brings.
“Through Barbican Bermuda, we are able to extend the reach of Barbican’s property division in London and strengthen our US direct and facultative market proposition. From Bermuda, we are able to bring the security of the Lloyd’s market to an even broader spectrum of organisations, introduce greater diversity into our property portfolio and benefit from the stability that this brings.”
Lucking will report to David Slade, divisional head of property at Barbican, who welcomed him to his new role; “we see this as an opportune time to establish ourselves in Bermuda. We believe that Bermuda offers significant opportunities for profitable, sustainable growth in the U.S. direct and facultative arena and Nik brings an exceptional level of underwriting insight and leadership to the operation.”
Lucking was previously unit head of U.S. direct and facultative property at AXIS/Novae, and prior to this, acted as senior vice president and head of individual risks at Montpelier Re Bermuda, having joined Montpelier Re in 2007.
He also boasts experience as an executive director at Willis, heading-up the firm’s U.S. property team in Bermuda and middle-market team in London.
