QBE Re, the global reinsurance arm of the Australian headquartered insurance group, has announced the hiring of Andy Richardson as Head of Underwriting for its Bermuda operation, who joins the company after his last position with ILS specialist manager Aeolus Capital Management.
Richardson departed from Aeolus Capital Management earlier this year, having spent just over one-year with the reinsurance and retrocession focused ILS specialist manager as a Portfolio Manager.
In his new role as Head of Underwriting or QBE Re in Bermuda, Richardson will support the development of the Bermuda reinsurance platform, helping to further strengthen its global property capability.
He will report to Tracey Gibbons, Head of QBE Re Bermuda and starts in the new role at the beginning of June, subject to Bermuda immigration.
Chris Killourhy, Managing Director, QBE Re commented, “I am pleased that we have been able to attract someone of Andy’s calibre to QBE, whilst demonstrating our commitment to the Bermuda market.
“Andy’s background, as both a broker and an underwriter in several jurisdictions, coupled with his extensive knowledge of the Bermuda and global property reinsurance markets, will be a huge asset.”
Richardson had previously been the Head of Property Treaty, Bermuda at specialty focused underwriting group Lancashire.
Prior to that, Richardson was a reinsurance broker at Guy Carpenter and worked in the United Kingdom, Japan, China and New York.
QBE Re said that it has been seeing increased demand from its global client base for specialty and property reinsurance in Bermuda.
The Bermuda reinsurance business is focussed on delivering sustainable growth, whilst optimising its broader portfolio, QBE Re explained.