Acrisure Re has brought its capital and captives division into its reinsurance business, bringing together more than 275 specialists across North America and Bermuda.

The move creates a new division, Acrisure Re Capital and Captives, combining captive insurance with reinsurance broking and advisory services in a single platform.

It is the latest step in Acrisure Re’s strategy to build out its global platform, including in Bermuda, where the firm has been expanding recently through senior hires and new business lines.

Last year, the company appointed Roman Romeo as president and head of its Bermuda operations. Acrisure has also opened a Hamilton office focused on wholesale insurance broking, appointing Paul Scope as chief executive of Acrisure Bermuda.

The new capital and captives division will sit alongside Acrisure Re’s reinsurance and corporate advisory businesses, forming a three-pillar structure supported by analytics and catastrophe modelling.

The company said the platform provides programme design and captive formation to reinsurance placement and access to capital markets.

Simon Hedley, global chief executive of Acrisure Re, said the integration brings together “the platform, relationships and reinsurance capabilities of Acrisure Re, combined with deep captive expertise”.

The business is already heavily weighted towards the American life and health market, which accounts for about 70 per cent of activity, particularly in self-insured medical plans, one of the fastest-growing segments in the US insurance market.

The remaining 30 per cent is focused on property and casualty, where Acrisure Re said it sees “significant runway” for growth, including in group and single-parent captive structures.

The division will also seek reinsurance opportunities through captive programmes.

In Bermuda, brokers have increasingly expanded beyond traditional placement roles on an island that is one of the world’s leading captive insurance hubs. Already home to more than 650 captives, Bermuda is seeing more demand for customised structures in both corporate and private wealth segments.

Seth Denson, who will lead the new division as head of captives, said the integration would allow the business to scale its existing strengths while developing new opportunities in both life and health and property and casualty markets.