IQUW, renamed ARCUS 1856 Syndicate at Lloyd’s, has announced the hiring of former Sompo International reinsurance director Stephen Young, who will lead its new Bermuda reinsurance business.
Following recent approval from the BMA, IQUW said it has launched a new reinsurance operation in Bermuda, offering a wide range of reinsurance products and related services to third parties.
As a result, veteran industry manager Stephen Young joins IQUW as CEO of IQUW Bermuda and Global Head of Reinsurance.
Young was previously CEO of Sompo International Reinsurance Group and had spent more than 19 years with that company and the former Endurance brand.
IQUW also announced the hiring of Kate Hamilton as Chief People Officer for both IQUW and sister syndicate ERS. Hamilton joins Guy Carpenter’s company, where she held the role of Managing Director, Head of International HR.
Commenting on his appointment and joining IQUW, Young said: “I am delighted to join IQUW to launch our new Bermuda entity, execute on our vision to become a global, multi-line (re)insurer and to the overall value proposition in this strategically important market.”
Kate Hamilton also said: “Having just been rebranded as IQUW, now is the perfect time to join the company to support its growth strategy. I look forward to shaping our culture and an agenda in which the voice of the employee has been included, 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 to have Stephen and Kate join the IQUW leadership team. The launch of our new Bermuda entity continues to deliver on our strategic plan to become a more diverse, data-driven 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 while strengthening our culture of collaboration, innovation and continuous improvement. I am delighted with the progress we have made as we continue to build IQUW.”
recall, ERS also launched a dedicated insurance-related securities (ILS) management division in ERS ILS Ltd. earlier this year.
We can envision connections between the IQUW platform and its expansion into Bermuda, with broader ERS reinsurance business and now insurance-related securities (ILS).