QBE launches its primary insurance offering in Bermuda as part of its international markets business. Initially, the offering focuses on property and excess casualty risks, as these risk profiles and programme structures are often best served through the Bermudian market. Both portfolios are underwritten in line with QBE’s existing global underwriting standards, maintaining consistency across the insurer’s major hubs. The launch forms part of a phased build of the insurer’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 leverages QBE Capital Ltd and QBE Capital (Global) Ltd, which received Class 4 licences from the Bermuda Monetary Authority (BMA) in 2024. These entities are now authorised to underwrite third-party business in addition to internal reinsurance. Saadia Savory is appointed as VP casualty, insurance, for Bermuda. She joins the firm from Aspen, where she managed the US casualty portfolio. Savory brings 19 years of underwriting experience to the role, including 16 years of Bermuda-based US casualty experience, having also held positions at Argo and Chartis. Will Jackson is appointed as VP property, insurance, for Bermuda. During his 14-year tenure at QBE, Jackson has held various roles within the London market property team, building expertise in managing and underwriting large complex risks and multinational programmes. Before relocating to Bermuda, he served as underwriting manager for the major risks team in London. Commenting on the launch, Kevin Shallow, head of international markets for QBE, says: “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.”
