Oxygen Insurance Brokers Ltd. said it will be launching Oxygen Re, a specialty reinsurance brokerage division in Bermuda, in conjunction with the incorporation of Oxygen Insurance (Bermuda) Ltd., according to Business Insurance magazine.

Oxygen Re will cater to commercial lines such as non-marine, marine and aviation treaty reinsurance, while Oxygen Insurance Brokers also has offices in London and New York.

Graham Wood will lead Oxygen Re's business development division as well as serve as operations manager of Oxygen Insurance (Bermuda). Mr. Wood most recently was a team leader with Gallagher Re's Bermuda operation.