Fergus Reinsurance Limited, a Bermuda Class 3A licensed reinsurer, has recruited two Bermudian reinsurance professionals to its underwriting and management team.

Chris Powell has joined the company as chief underwriting officer. He has 27 years of property and casualty insurance underwriting experience, most recently as underwriting and reinsurance manager for Colonial Group.

Previously, he was vice-president and lead property treaty underwriter at Endurance Specialty in Zurich, Switzerland. He has also worked for Bermudian-based companies Endurance Specialty, Lehman Re and LaSalle Re.

Meanwhile, Elspeth Gray has been appointed director of business development to assist in the structured growth of the company.

Ms Gray has nearly 40 years of international insurance and reinsurance experience in London, New York, Houston and Bermuda. For the past decade she has held roles at Argo Group Limited in Texas and Bermuda, including local community involvement as president of the Argo Foundation. Prior to that she was executive vice-president at Thomas Miller (Bermuda) Ltd and has also held senior roles at Oil Insurance Limited and Heddington Brokers Ltd.

Navin Dadlani, president of Fergus Re, said: “With our recent AM Best B+ rating and the addition of these seasoned industry professionals, Fergus Re can capitalise on current reinsurance opportunities, which will assist with our mission to build Fergus into a preferred partner in the middle-market reinsurance segment.

“With Chris’s underwriting experience and Elspeth’s extensive contacts and relationships, both locally and internationally, we are expecting steady profitable growth in our portfolio.”