QBE, an international insurer and reinsurer, has announced the launch of its primary insurance offering in Bermuda as part of its International Markets business.
The offering will initially focus on Property and Excess Casualty, lines that are often best served through the Bermudian market. Both portfolios will be underwritten in accordance with QBE’s global underwriting standards.
QBE also announced the appointments of Saadia Savory as Vice President, Casualty Insurance, Bermuda, and Will Jackson as Vice President, Property Insurance, Bermuda.
Savory brings 19 years of underwriting experience, including 16 years in Bermuda-based U.S. Casualty. She joins QBE from Aspen, where she managed the U.S. Casualty portfolio, and previously held underwriting roles at Argo and Chartis.
Jackson has spent over 14 years at QBE, where he has held a variety of roles within the London Market Property team, building deep expertise in managing and underwriting large, complex risks and multinational programs. Most recently, he has served as Property Underwriting Manager – Major Risks since September 2021.
This launch forms part of a phased build of QBE’s Bermudian insurance offering, with the potential to expand into other products, recognising long-term demand across multiple classes in the Bermudian market.
The company will leverage its existing Bermuda entities, QBE Capital Ltd and QBE Capital (Global) Ltd, both of which received Class 4 licenses from the BMA in 2024 and are now authorised to underwrite third-party business in addition to internal reinsurance.
Kevin Shallow, Head of International Markets at QBE, said, “Establishing a direct insurance presence in Bermuda positions QBE at the heart of one of the world’s most established and fast evolving markets for large corporate risks. By entering the market with a disciplined appetite and coordinated approach across London, North America and Bermuda, QBE is offering customers a broader, globally coherent proposition.”
