Brit announces appointment to lead Bermuda expansion

Brit announces appointment to lead Bermuda expansion | Insurance Business New Zealand

Reinsurance

Brit announces appointment to lead Bermuda expansion

He will lead the reinsurance growth strategy, focusing on property and specialty lines

Reinsurance

By
Kenneth Araullo

Brit Ltd has announced the appointment of Jonathan Stephenson as head of office in Bermuda, pending approval from the Bermuda Monetary Authority and the Department of Immigration.

Stephenson will lead Brit’s operations in Bermuda and oversee the expansion of Brit Re, focusing on property, casualty, and specialty reinsurance. Brit Re is set to become a key part of the group’s growth strategy, complementing its existing property reinsurance business that operates through Lloyd’s Syndicate 2987.

Before joining Brit, Stephenson served as managing director at Guy Carpenter in Toronto. Over his 30-year career, he held roles such as Pacific Region CEO at Guy Carpenter and executive vice president at Aon.

Martin Thompson, CEO of Brit Group, stated that Stephenson is well-regarded within the international reinsurance market and is seen as the right person to help deliver Brit’s expansion strategy in Bermuda.

He also mentioned plans for additional hires to further strengthen the company’s capabilities on the island, supporting growth across property, casualty, and specialty lines.

Stephenson expressed enthusiasm about the opportunity to help establish Brit’s presence in Bermuda, citing the company’s market reputation and its underwriting expertise in London.

He said he looks forward to building a team to capitalize on the growing opportunities in Bermuda while creating a lasting presence.

In June, Brit announced the appointment of former CEO and president of PartnerRe Jacques Bonneau as a non-executive director, still subject to regulatory approval.

“Based in Bermuda, Jacques will bring considerable experience, insights, and relationships which will be of deep value to Brit as it embarks on a strategic plan to significantly expand its presence in Bermuda across property, casualty, and specialty reinsurance,” Brit said in a statement.

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