Bermuda-based Hamilton Insurance Group Ltd has decided to cease writing property treaty reinsurance through Syndicate 4000 in London.

Adrian Daws, CEO of Hamilton Managing Agency Limited, said: “We regularly review our book to ensure that we continue to drive underwriting profitability in line with Hamilton's strategy of building a global, diversified specialty insurance and reinsurance company.

“This decision allows us to reduce volatility in our Lloyd’s business and focus on writing specialty niche products.”

The company said that it will continue to write property treaty reinsurance business out of Bermuda, consolidating its peak peril catastrophe reinsurance underwriting into one hub.

Hamilton said that it will also continue to support US regional property reinsurance business through a US-based team.