Joseph Barrowclough has been appointed President of Bermuda Reinsurance at US insurance and investment firm Prudential Financial Inc. (PFI), overseeing Gibraltar Re and Lotus Re.
Gibraltar Re and Lotus Re are Bermuda-based reinsurance companies and wholly-owned subsidiaries of PFI.
They act as internal reinsurers, focusing on managing capital efficiency for affiliated Prudential operations, particularly by assuming longevity and asset risk from US and Japanese pension and annuity businesses.
In his new position, Barrowclough will be focusing on the continued build-out of the company’s Bermuda platforms.
“We have an ambitious road ahead as we refine our capabilities and grow the business, and I am fortunate to be supported by a truly excellent team in doing so. I am very much looking forward to the challenge and the journey ahead,” the executive stated.
Barrowclough’s tenure with PFI spans close to three years, having joined the Bermuda platforms in 2023. During this time he has served as Chief Actuary, and most recently, as Chief Financial Officer.
Prior to joining PFI the executive spent a decade at St. James’s Place Wealth Management, where he held a number of positions.
