IQUW, which is the rebranded ARCUS 1856 Syndicate at Lloyd’s, has announced the hiring of former Sompo International reinsurance executive Stephen Young who will become leader of its new Bermuda reinsurance operations.
Following recent approval from the BMA, IQUW said it has launched of a new reinsurance operation in Bermuda, offer a wide range of re/insurance products and related services to third party clients.
As a result, seasoned industry executive Stephen Young joins IQUW as CEO of IQUW Bermuda and Global Head of Reinsurance.
Young was previously CEO of Sompo International Reinsurance Group and he’d worked at that company and its former brand Endurance for over 19 years.
IQUW has also announced the hiring of Kate Hamilton as Chief People Officer for both IQUW and sister syndicate ERS. Hamilton joins the company from Guy Carpenter, where she held the role of Managing Director, Head of International HR.
Young commented on his appointment and joining IQUW, “I am thrilled to be joining IQUW to launch our new Bermuda entity, execute on our vision to become a global, multi-line (re)insurer and to enhance the overall value proposition in this strategically important market.”
Kate Hamilton also said, “Having just rebranded as IQUW, this is the perfect time to join the firm to support its growth strategy. I am looking forward to shaping our culture and an agenda that includes the voice of the employee as we continue our efforts to develop a diverse, engaged and highly skilled workforce.”
ERS Group Chief Executive Officer, Peter Bilsby added, “I am delighted that Stephen and Kate are joining the IQUW leadership team. The launch of our new Bermuda entity continues to deliver on our strategic plan to become a more diverse, data-led P&C (re)insurer and Stephen adds a wealth of experience and expertise that will help us grow our (re)insurance portfolio. Kate’s appointment will help us focus on our people agenda as we enhance our culture of collaboration, innovation and continuous improvement. I am thrilled with the progress we have made as we continue to build-out IQUW.”
Recall, ERS also launched a dedicated insurance-linked securities (ILS) management division in ERS ILS Ltd. earlier this year.
We’d imagine there could be connections between the IQUW platform and its expansion into Bermuda, with broader ERS reinsurance and now insurance-linked securities (ILS) activities.