Hamilton Insurance: “We Were Built For This”

September 11, 2017

Hamilton Insurance Group, a Bermuda-based holding company for insurance and reinsurance operations that underwrite property and casualty risks in Bermuda, the U.S. and at Lloyd’s, has outlined the platform the company has established to “enable its resilience through any market cycle.”

A spokesperson said, “We Were Built For This notes the organization’s nimble structure, lack of legacy systems and culture, strong balance sheet and focus on technology as characteristics of a new kind of Tier 1 company.

“The document features market and organizational observations from Interim Group CEO David Brown, Hamilton Re CEO Kathleen Reardon and Hamilton at Lloyd’s CEO Dermot O’Donohoe.”

David Brown, Interim Group CEO, Hamilton Insurance Group, said, “To succeed, you need an efficient capital mix, including the lower cost that partner capital – often referred to as alternative capital – can bring.”

Kathleen Reardon, Hamilton Re CEO, said, “We know it’s possible to sustain a profitable company regardless of the market cycle. For example, Hamilton Re recorded its best underwriting quarter in Q2.

“A Tier 1 company isn’t necessarily the largest. It’s the company that is smartest about its use of capital, and about matching risk with the right capital.

“There’s an evolving and healthy relationship between the insurtech and traditional insurance worlds. We both need each other.”

Dermot O’Donohoe, Hamilton at Lloyd’s CEO, said, “In the short term, the measure of our success is the level of acceptance we’ve had in the market. We lead about 50 percent of our business, which means the market views us as relevant in placing risk.

“Because we started with a clean sheet, we were able to build an IT platform that integrates all the necessary information. It underpins all the underwriting and gives everybody access to all the data they need.”

The full ‘We Were Built For This’ platform follows below [PDF here]:

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