UK re/insurer Brit plc says its new Bermuda office had a successful start to 2014.

The office, which has set up specialise in underwriting excess workers’ compensation reinsurance and catastrophe risks, wrote $16 million of premium in the first quarter of this year, the company reported.

The business formed only a small part of the £336.5 million ($565 million) of premium written by the Brit Group, which was up 1.2 percent on the first quarter of 2013 (or 6.5 percent at constant exchange rates).

Joe Bonanno is the head of the firm’s Bermuda office, a former senior vice-president at Markel Bermuda who specialises in workers’ compensation reinsurance.

Julia Henderson, a former vice-president at PartnerRe, is building the catastrophe reinsurance side of the business.

Group CEO Mark Cloutier said: “Top line premium growth of 6.5 percent on a constant exchange rate basis reflects the success of new initiatives and team hires made in 2013. Our focus on optimising the risk adjusted return on our investment portfolio has delivered a solid return for the period of 1.1 percent.

“With respect to growth initiatives, our new Bermuda office has had a successful start to 2014 writing over $16 million of premium and in Q2 we welcome our recently announced UK property team to the platform and the opening of our Miami-based Latin American Office. We are also delighted to announce a renewal rights transaction with QBE which will see Brit inherit a market leading Aviation team from June 1.

“The current market presents both challenges and opportunities. We will continue to build on our highly efficient Lloyd’s-based business model supported by our global distribution network, while maintaining a clear focus on underwriting and pricing discipline.”