Brit Re becomes one of ABIR’s latest members

Brit Re, the Bermuda-based reinsurance platform of Brit, has joined the Association of Bermuda Insurers and Reinsurers (ABIR), as the organisation’s membership reaches record high.

ABIR represents the public policy interests of Bermuda’s international re/insurers, and currently has 34 member carriers and three intermediaries in its Broker Advisory Cabinet.

The organisation has been representing these interests for 32 years and now has a record high number of members.

With Brit Re joining ABIR, Jonathan Stephenson, Head of Office, Bermuda, for Brit, was appointed to the ABIR board of directors.

Brit Re is part of Brit, a global provider of insurance and reinsurance, owned by Fairfax Financial Holdings Ltd. Brit is headquartered in the UK with offices in London and Bermuda.

A full-service reinsurance platform, Brit Re relocated to Bermuda in 2017. To significantly expand its property, casualty, and specialty reinsurance presence in Bermuda, Brit announced a strategic plan in 2024 and has since recruited top industry talent to drive this expansion.

Mark Cloutier, ABIR Chair and Executive Chair of Aspen Insurance Group, said: “We are pleased to welcome Brit Re, an active participant in the Bermuda re/insurance market for more than a decade, as a new member of ABIR. With his deep industry insight and experience, Jonathan will be a valuable addition to the ABIR board.”

Stephenson, who joined Brit Re last September, has held leadership roles spanning a reinsurance career of over 30 years.

These roles include Pacific Region CEO for Guy Carpenter, Executive Vice President at Aon, and, most recently, Managing Director at Guy Carpenter, based in Toronto.

The executive commented: “Building out our team at Brit Re to capitalise on the opportunities in Bermuda’s vibrant, multiclass reinsurance market is a priority for us. Brit Re is a significant growth pillar for Brit and we aim to create a meaningful, long-term presence in Bermuda.

“As we continue to grow our business and build out our Bermuda footprint, we are proud to join ABIR, an organisation that has done so much to build the global reputation of this thriving marketplace as a leading risk management hub.”

John Huff, CEO of ABIR, said: “Brit Re’s expansion plans in Bermuda are good news for the island and for the market. We’re pleased to welcome Brit Re to ABIR.

“ABIR’s member companies lead the world in assembling the capital and expertise needed to address the world’s most complex and evolving risks — from natural catastrophes and climate change to cyber threats, mortgage, specialty, and legacy risks.”

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