International insurance and reinsurance company QBE has announced the launch of major insurance products in Bermuda as part of its international markets operations.
The product will initially focus on property and excess casualty lines, which are typically best served through the Bermuda market. Both portfolios will be underwritten in accordance with QBE’s global underwriting standards.
QBE also announced the appointment of Saadia Savory as Vice President of Bermuda Casualty Insurance and Will Jackson as Vice President of Bermuda Property Insurance.
Savory has 19 years of underwriting experience, including 16 years with US Casualty in Bermuda. Prior to joining QBE, she was responsible for the U.S. casualty portfolio in Aspen and previously held underwriting roles at Argo and Chartis.
Jackson has worked at QBE for over 14 years, holding a variety of roles within the London market real estate team, developing deep expertise in managing and underwriting large, complex risk and cross-border projects. Most recently, he served as Critical Risk Property Underwriting Manager since September 2021.
The launch is part of a phased build-out of QBE’s Bermuda insurance offering, with the potential to expand to other products, recognizing long-term demand in the Bermuda market across multiple categories.
The company will leverage its existing Bermuda entities QBE Capital Ltd and QBE Capital (Global) Ltd, which both received Level 4 licenses from the BMA in 2024 and are now authorized to underwrite third-party business in addition to in-house reinsurance.
Kevin Shallow, head of international markets at QBE, said: “Establishing a direct insurance business in Bermuda puts QBE at the heart of one of the most mature and fastest growing large corporate risk markets in the world. By entering the market with a rigorous appetite and a coordinated approach in London, North America and Bermuda, QBE is providing clients with a broader, globally consistent proposition.”
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