Bermuda reinsurer Harbor Point Re has been given a licence to write business through its UK office.

Harbor Point Re UK has been operating as a representative office in Britain since 2006 and will now have authority to underwrite reinsurance in the UK on behalf of Harbor Point Re.

The office will initially focus on developing underwriting opportunities for short-tail specialty reinsurance classes such as marine, energy, engineering, terrorism and war risks.

In addition, Harbor Point Re UK will consider property risk reinsurance programmes and may in the future consider non-US casualty reinsurance programs.

Trevor Carvey, managing director of Harbor Point Re UK, said: "We are very excited to have received the FSA authorisation for our branch activities, which will enable us to expand our presence in the UK and gain access to London's mature specialty market.

"We look forward, subject to market conditions, to building a portfolio of business which compliments that of our colleagues in Bermuda and New Jersey."

Harbor Point chief executive officer John Berger said: "The London market will offer significant potential for Harbor Point to expand its specialty underwriting capability when market conditions improve.

"Our presence demonstrates our commitment to this market, and we are eager to introduce our underwriting capacity here."