American Safety launches UK reinsurance unit
Bermuda-based American Safety has set up a new company in the UK that will soon write casualty treaty reinsurance.
American Safety UK will begin operations in London in the second quarter of this year, subject to regulatory approval.
Chief underwriting officer Nick Pascal said: “Having a permanent presence in the London market will significantly enhance the group’s ability to service its clients and brokers and will provide diversification within the reinsurance portfolio.”
Heading up the new branch is former Oxford Insurance executive director and Catlin Group operations director Barry Slater. Mr Slater has more than 30 years experience in the casualty reinsurance industry.
“The formation of American Safety UK is part of our strategy to build scale in our reinsurance operations,” said Stephen Crim, CEO of American Safety Insurance Holdings. “We are particularly pleased to have such an accomplished executive with in-depth reinsurance experience join our organisation.”
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