Nectaris Re launches on island – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Nectaris Re launches on island

Nectaris Re Ltd is the newest member of Bermuda’s re/insurance Class of 2020/21.

Licensed as a Class 3A insurer by the Bermuda Monetary Authority, Nectaris Re is the operating subsidiary of Nectaris Holdings Ltd.

Both companies are registered in Bermuda.

Artemis, the specialist insurance-linked securities and re/insurance news website, reports that Leadenhall Capital Partners LLP, the London-headquartered ILS and reinsurance-related investment manager, is backing the new venture.

It added that Leadenhall employee Ben Adolph will join the company as a director and act as Nectaris Re’s head of underwriting on a part-time basis.

Artemis said Mr Adolph will also continue to be an employee of Leadenhall Capital Bermuda Ltd and as a managing partner of Leadenhall Capital Partners LLP, where he is head of non-life portfolio management.

It said Nectaris Re will be managed and administered by Horseshoe.

The Bermudian-based outfit is the world’s largest ILS service provider.

The register of company directors in Bermuda shows that the other directors of Nectaris Holdings and Nectaris Re are Andre Perez, executive chairman of Horseshoe, and Scott Cobon, managing director of Artex Risk Solutions Bermuda.

Horseshoe was purchased by Artex in 2019.

Artex is a subsidiary of global brokerage and risk management services provider Gallagher.

Nectaris Re has been assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” (Excellent) by ratings agency AM Best.

The outlook assigned to the ratings is stable, AM Best said.

AM Best said the ratings reflect Nectaris Re’s balance sheet strength, which the agency assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Nectaris Re: the newest member of Bermuda’s re/insurance class of 2020/21 (File photograph by Blaire Simmons)

You must be registered or signed-in to post comment or to vote.

Published May 14, 2021 at 12:49 pm (Updated May 14, 2021 at 12:49 pm)

Nectaris Re launches on island

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon