Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd., has decided to stop writing property treaty reinsurance through Syndicate 4000 in London.
The re/insurer says that it will continue to write this line of business out of Bermuda, consolidating its peak peril catastrophe reinsurance underwriting into a single hub.
Additionally, the company will continue to support U.S. regional property reinsurance business via a U.S.-based team.
Adrian Daws, Chief Executive Officer (CEO) of Hamilton Managing Agency Limited, commented: “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.
“This decision allows us to reduce volatility in our Lloyd’s business and focus on writing specialty niche products.”
