Hamilton Re, the Bermudian-based insurance and reinsurance underwriting platform of Hamilton Insurance Group Ltd, has expanded into Credit, Bond and Political Risk Reinsurance.

That initiative will be led by Sergio Lottimore, who has been appointed to the role of vice-president. Based in Bermuda, he will report to Peter Riihiluoma, senior vice-president and head of Specialty Reinsurance at Hamilton Re.

“Our expansion into Credit, Bond and Political Risk Reinsurance marks a significant milestone for Hamilton Re in its commitment to building a globally diversified reinsurance offering,” said Hamilton Re chief executive Megan Graves.

“This exciting development is bolstered by Hamilton’s AM Best financial strength rating upgrade to ”A“ (excellent) announced earlier this year.

“I’m delighted to welcome Sergio to Hamilton. He brings dedicated expertise and experience in Mortgage, Trade Credit, Surety, Political Risks and Structured Credit lines to our already strong Specialty Reinsurance team.”

Mr Lottimore, who has 18 years of specialty and financial lines market experience, joins Hamilton from Validus Re.