Bermuda-headquartered Hamilton Insurance Group has decided to cease writing property treaty reinsurance via Lloyd’s Syndicate 4000 in London.
In a release, Hamilton said it will continue to write property treaty reinsurance business from Bermuda, to consolidate the company’s peak peril catastrophe reinsurance underwriting into a single hub.
Lifting the lid on the move, Hamilton Managing Agency Limited chief executive Adrian Daws noted: “We regularly review our book to ensure that we continue to drive underwriting profitability in line with Hamilton’s strategy of building a global, diversified specialty insurance and reinsurance company.
“This decision allows us to reduce volatility in our Lloyd’s business and focus on writing specialty niche products.”
Meanwhile, the group will continue to support US regional property reinsurance business through a team based in the US.