LONDON (Bloomberg) - Goshawk Insurance Holdings Plc has renamed its Bermuda-based Goshawk Re reinsurance unit Rosemont Reinsurance Ltd. to differentiate it from discontinued parts of the company.

The change in name of the unit took effect from Friday, Goshawk said in a Regulatory News Service statement.

Goshawk, which insures property, aircraft and ships, is focusing on writing reinsurance through its Bermuda-based property and casualty unit after Lloyd's of London in September rejected a proposal to allow Goshawk to write business without injecting new funds.

The company in September said it would need to boost reserves at its Lloyd's business because of costs, legal expenses and cargo-insurance business for “prior years.”

Goshawk has said the reinsurance division plans to focus on “higher margin” business, the company.

Since September, a number of senior executives at Goshawk have resigned, including chief executive officer Chris Fagan and finance director Andrew Castell.

Following the resignation of Mr. Fagan, Paul Spencer, a non- executive director of Britannic Group Plc, was appointed non- executive chairman. Russell Brooke, CEO and chief underwriting officer for Goshawk Re, was appointed to the board. Mr. Castell was replaced by Jon Beck, chief financial officer of Goshawk Re.