QBE launches primary insurance in Bermuda

QBE, the international business insurer, has launched its primary insurance offering in Bermuda as part of its International Markets business. 

Initially, the offering will focus on Property and Excess Casualty, with these risk profiles and programme structures often best served through the Bermudian market. Both portfolios will be underwritten in line with QBE’s existing global underwriting standards, maintaining consistency across the insurer’s major hubs. 

Saadia Savory has been appointed as VP Casualty, insurance, for Bermuda. Saadia joins from Aspen, where she managed the US Casualty portfolio. She brings 19 years of underwriting experience to the role, including 16 years of Bermuda-based US Casualty experience, having also held roles at Argo and Chartis.  

Will Jackson has been appointed as VP Property, insurance, for Bermuda. Throughout his 14-year tenure at QBE, he has held a variety of roles within the London Market Property team, building deep expertise in managing and underwriting large complex risks and multinational programs. Before relocating to Bermuda, Will served as Underwriting Manager for the Major Risks team in London. 

This launch forms part of a phased build of QBE's Bermudian insurance offering, with the potential to expand into other products, recognising the long-term demand in the Bermudian market across multiple classes. 

The insurance business will leverage QBE’s existing companies in Bermuda, QBE Capital Ltd and QBE Capital (Global) Ltd, which received a Class 4 licences from the BMA in 2024 and are now authorised to underwrite third-party business, in addition to internal reinsurance.

Kevin Shallow, Head of International Markets for QBE said: "Establishing a direct insurance presence in Bermuda positions QBE at the heart of one of the world’s most established and fast evolving markets for large corporate risks.  By entering the market with a disciplined appetite and coordinated approach across London, North America and Bermuda, QBE is offering customers a broader, globally coherent proposition."