Hamilton Re has obtained renewal rights to the primary excess casualty book belonging to Sompo Canopius’ Bermudan subsidiary.
As part of the deal Stephen Hartwig will join Hamilton as chief underwriting officer for casualty insurance. Jeremy Wright will also join as senior vice president of casualty insurance, both joining from Sompo Canopius.
The deal is thought to be completed by the Autumn with Hartwig reporting to Hamilton Re CEO Kathleen Reardon. Reardon hailed the acquisition as complimenting the company’s diversification efforts.
Mike Duffy Sompo Canopius group chief underwriting officer said, "We are pleased to have reached this agreement with Hamilton Re, which provides a great long-term home for the business, especially taking on the knowledge, expertise and relationships of Stephen Hartwig and Jeremy Wright. We remain committed to our property catastrophe business that is also written out of our Bermuda office, and look forward to continuing to work with our partners in Bermuda, particularly Hamilton."