Hamilton Insurance Group has opened up new offices in London to boost its presence in the Lloyd’s of London market.

And yesterday Bob Richards, the Minister of Finance, joined Brian Duperreault, Hamilton’s chairman and chief executive officer, and Dermot O’Donohoe, Hamilton at Lloyd’s CEO, to mark the event.

Mr Duperreault said: “When we launched Hamilton in December 2013 we had three key objectives.

“These were to develop our acquired reinsurance operations in Bermuda, to establish a platform at Lloyd’s and to launch an insurance brand in the United States — all of which would leverage the outstanding analytical capabilities of our technology and investment partners Two Sigma to create a new way of doing business.”

Hamilton announced two weeks ago that it would link up with American International Group and Two Sigma to create an insurance platform for small and medium-sized businesses.

The three companies are looking to become the leader in the sector in North America, where the market is estimated to be worth $76 billion.

Mr Duperreault said that the new London office and the push in North America meant Hamilton was “delivering on all fronts”.

He added: “I congratulate Dermot and his team for the impressive progress they’ve made in building a diversified platform at Lloyd’s in such a short space of time. Their new offices are a fitting testament to all they’ve achieved.”

Mr O’Donohoe said: “I am most grateful for the hard work of everyone at Hamilton at Lloyd’s. Our 45 employees coordinated multiple work streams in offices designed to accommodate a handful of staff.

“Working with our partners at Lloyd’s, their efforts resulted in Hamilton at Lloyd’s being fit for purpose and ready to write business as of January 1, 2016.

“Our staff’s dedication to Hamilton’s vision is the reason we are where we are today and why I am so optimistic about our future growth prospects.”

Hamilton bought up a niche sports underwriting managing agency last year and renamed it Hamilton Underwriting Ltd and Syndicate 3334 to establish a diversified presence at Lloyd’s.

Syndicate 3334 now writes seven classes of business — accident and health, contingency, financial institutions, property direct and facultative, professional indemnity and space and treaty insurance.