Brit pronounces appointment to guide Bermuda enlargement

Brit Ltd has introduced the appointment of Jonathan Stephenson as head of workplace in Bermuda, pending approval from the Bermuda Financial Authority and the Division of Immigration.

Stephenson will lead Brit’s operations in Bermuda and oversee the enlargement of Brit Re, specializing in property, casualty, and specialty reinsurance. Brit Re is about to change into a key a part of the group’s development technique, complementing its present property reinsurance enterprise that operates via Lloyd’s Syndicate 2987.

Earlier than becoming a member of Brit, Stephenson served as managing director at Man Carpenter in Toronto. Over his 30-year profession, he held roles corresponding to Pacific Area CEO at Man Carpenter and govt vice chairman at Aon.

Martin Thompson, CEO of Brit Group, said that Stephenson is well-regarded inside the worldwide reinsurance market and is seen as the correct particular person to assist ship Brit’s enlargement technique in Bermuda.

He additionally talked about plans for added hires to additional strengthen the corporate’s capabilities on the island, supporting development throughout property, casualty, and specialty strains.

Stephenson expressed enthusiasm concerning the alternative to assist set up Brit’s presence in Bermuda, citing the corporate’s market status and its underwriting experience in London.

He mentioned he appears ahead to constructing a staff to capitalize on the rising alternatives in Bermuda whereas creating a long-lasting presence.

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

“Based mostly in Bermuda, Jacques will convey appreciable expertise, insights, and relationships which will probably be of deep worth to Brit because it embarks on a strategic plan to considerably broaden its presence in Bermuda throughout property, casualty, and specialty reinsurance,” Brit mentioned in an announcement.

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