Beazley expands Bermuda presence with Wunderlich appointment as Head of ART

Beazley, a large specialist insurer, has appointed Stefan Wunderlich as Head of Alternative Risk Transfer (ART), where he will take on this new responsibility alongside his existing role as Head of Parametric and will relocate to Bermuda, subject to immigration approval.

Wunderlich joined Beazley in June 2025 following a 20-year career at global reinsurer Swiss Re, where he specialised in modeling and underwriting property and natural catastrophe risks.

In his expanded role at Beazley, he will be tasked with leading the firm’s alternative risk transfer operations across Bermuda.

This leadership move coincides with Beazley’s expanding footprint in Bermuda. The company has confirmed its new office location at Ninety-One, 91 Front Street, which is set to open in June 2027.

The lease was reportedly secured through Brookfield Asset Management, one of the world’s largest alternative asset managers.

This builds on the firm’s continued investment in the island as its strategic hub for complex and specialty solutions, including ART, Mortgage Indemnity Insurance and Property Treaty Reinsurance.

In November last year, Beazley revealed its plans to deploy $500 million of capital to establish a new Bermuda platform to expand in the alternative risk transfer market, including through a new start-up venture targeting insurance-linked securities (ILS) opportunities.

Beazley’s CEO Adrian Cox also explained at the time that the new Bermuda platform will have a cyber insurance-linked securities focus, including plans to launch a cyber ILS fund strategy.

Cox also explained that Beazley’s Bermuda ILS plans involve a joint-venture with an established ILS market player that has a platform on the island.

Earlier this year, Beazley also announced that its Head of Third-Party Capital Richard Gray would be relocating to Bermuda to take on the responsibilities of launching and running operations there, as well as the new cyber ILS venture for the company.

Paul Bantick, Group Chief Underwriting Officer, commented: “We are moving at pace to build out our presence in Bermuda. We have a growing team on the ground, are already successfully underwriting Property Treaty and the deployment of Stefan’s expertise will see a step change in our ART offering, which includes parametrics.

“It’s exciting to be part of Bermuda’s innovative insurance community and have the opportunity to better support our brokers and clients manage complex risks.”