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Lockton snaps up JLT Bermuda boss

Lockton snaps up JLT Bermuda boss | Insurance Business

Lockton snaps up JLT Bermuda boss
Amid what it foresees as a difficult market, Lockton has appointed Gareth Davies as property senior vice president for British overseas territory Bermuda.

Davies, who served as JLT Bermuda chief executive prior to his move, will be responsible for business growth. A Chartered Insurance Broker and an Associate of the Chartered Insurance Institute, he also headed RK Harrison Bermuda.

The key hire, a two-decade property broker, brings not only vast broking experience but also know-how in facultative reinsurance and alternative property solutions.

“We’re pleased to have Gareth join our growing Bermuda team,” said Lockton Bermuda managing director Philip DiMeglio. “He’s a strong addition to Lockton’s international placement, and our clients will benefit from his expertise, particularly in light of the recent catastrophic losses from storms, earthquakes, and fires.”

The Association of Bermuda Insurers & Reinsurers said the island territory is likely to see its insurance market absorb at least 25% of insured-loss claims from hurricanes Harvey, Irma, and Maria. More than 32% of the top 40 global reinsurers are based in Bermuda.

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