Reinsurance News

Tysers announces minority investment in Bermuda’s Helix

14th January 2020 - Author: Luke Gallin

Tysers, the specialty London-based wholesale broker, has announced a minority investment in Helix Underwriting Partners Limited, the first multi-line independent Managing General Agent in Bermuda.

TysersHelix, which was founded by re/insurance industry veterans Claude Lefebvre, Nicholas Lucking and Neville Watson, launched in Bermuda last week after receiving all necessary approvals to begin operations.

At the same time, the company also revealed that it had secured its first agency agreement to underwrite Middle Market Property Insurance on behalf of insurer QBE in Bermuda.

It’s now been announced by Tysers that it has made a minority investment in Helix, as discussed by the Managing Director of Tysers Bermuda Limited, Richard Tomkins, who said: “As we enter the 200th year of Tysers existence, we are delighted to be partnering with Helix Underwriting Partners.

“In the latter half of 2019 we observed and had dialogue with Helix during its formation and realised they would be a great fit for our stated independent strategy. The founders of Helix have many years of experience within the industry, across multiple disciplines and have all the necessary skills to make the business a success.”

Lefebvre, President of Helix, added: “During our formation process, we reviewed capital propositions from several interested parties. Tysers emerged as an optimal strategic partner for Helix; its goal to be a leading independent brokerage and service firm aligns well with the profile of our business.

“Helix has collaborated closely with the Tysers management team throughout this process. We appreciate this strategic investment from Tysers and the additional access to capital as we fully launch Helix with our business partners.”

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