Brit Ltd has appointed industry veteran Jonathan Stephenson as head of Office, Bermuda, to lead the organisation’s expansion plans on island.

Brit Reinsurance (Bermuda) Ltd is a Class 3B insurer licensed by the Bermuda Monetary Authority.

The company said: “Jonathan will lead Brit in Bermuda, helping to drive its planned expansion of Brit Re across property, casualty and specialty reinsurance.

“As a full-service reinsurance platform, Brit Re will represent an important new growth pillar for the group and its global reinsurance capabilities, and will complement Brit’s existing successful Property Reinsurance offering, which writes on behalf of Lloyd’s’ Syndicate 2987.”

Prior to joining Brit, Mr Stephenson was a managing director at Guy Carpenter, based in Toronto. During his 30-year career in reinsurance, he has been Pacific Region CEO for Guy Carpenter and an executive vice-president at Aon.

The news follows the appointment in June of Jacques Bonneau, formerly CEO and president of PartnerRe, to the board of Brit Re as a non-executive director.

Martin Thompson, chief executive of Brit Group, said: “Jonathan is a highly regarded leader and practitioner within the international reinsurance market, and is the ideal candidate as we look to implement and deliver our ambitious Bermuda strategy.

“With Jonathan in place, we look forward to announcing further appointments to deepen our capabilities on the island that can support our plans for profitable growth across property, casualty and specialty classes.

“Jonathan is passionate about building businesses and developing high-performance collaborative cultures, making him a great fit for Brit.”

Mr Stephenson said: “Brit has a leading brand and reputation in the market, and the opportunity to help establish a significant Bermuda presence to complement its underwriting expertise in London was compelling.

“I am excited to be joining and look forward to building a team to take advantage of the increasing opportunities in Bermuda whilst creating a meaningful long-term presence.”

The appointment is subject to approval by the BMA and the Department of Immigration.