Bermudian-headquartered Arcadian Risk Capital is expanding its property underwriting business with a new team led by former Hamilton Re executive Gavin Davis.

The managing general agent said the Bermuda team would build a portfolio of commercial and specialty property insurance and facultative reinsurance, with approximately 90 per cent of anticipated business domiciled in North America.

The portfolio will complement Arcadian’s existing London property account, which has a strong international focus and limited exposure to US catastrophe risks.

Mr Davis, a Bermudian, joins as executive vice-president, Bermuda property D&F, having served as head of property underwriting at Hamilton Re. Arcadian said he had built a consistently profitable book of business there over more than a decade.

He previously held senior leadership positions at Montpelier Re, Axis Capital and Guy Carpenter.

The new account is expected to comprise approximately 70 per cent general commercial property and 30 per cent technical risks. The latter will focus on engineered onshore risks in sectors including power and renewables, molten metals and heavy manufacturing.

John Boylan, Arcadian’s chief executive, said: “We couldn’t be more pleased to have Gavin lead this important initiative for us. This appointment represents an important expansion of Arcadian’s property capabilities. Gavin is a respected, well regarded and disciplined technical underwriter whose overall philosophy is closely aligned with ours.”

Mr Davis said carrier support had been secured for the Bermuda product line and indicated that the company also planned to expand into the US excess and surplus lines market.

“I am delighted to be joining Arcadian at this exciting stage of platform development,” he said. “Working with John and the leadership team on Arcadian’s property expansion into the Bermuda D&F market and, eventually, into US E&S has been both rewarding and energising.”

Arcadian said its underwriting strategy would focus on sustained profitability through risk selection, disciplined pricing and portfolio quality.

The group operates in Bermuda, Ireland, the United Kingdom and the United States.