Triangle Eight Celebrates First Year In Business
Triangle Eight Group, the integrated professional services group for the [re]insurance industry, celebrates its first anniversary in business today.
A spokesperson said, “The anniversary comes as new figures underline the market the Group was built to serve: more than 35 new insurers registered by the Bermuda Monetary Authority so far this year, on pace for the island’s most active formation year since 2022, a record $70.5 billion of ILS listings on the Bermuda Stock Exchange at the half year, and record first-half catastrophe bond issuance of almost $18 billion.
“The Group was founded by Bermudian and reinsurance industry veteran Heather Kitson, a specialist in [re]insurance start-ups who served on early executive teams as General Counsel and Board Director of Aspen Re and as Deputy CEO of Convex Re.
“Its two businesses are Triangle Eight, which provides strategic, regulatory and operational advisory services across the life and non-life markets, with a focus on Bermuda start-ups, and T8 Partners, a retained executive search firm exclusively for the [re]insurance sector, which recently opened a London office near Lloyd’s and operates across the Bermuda, London and US markets. Both are led by people who have built, run and governed [re]insurers themselves.”
Ms Kitson said: “We were very fortunate with our market timing. Bermuda is tracking its busiest formation year since 2022, the BMA is sharpening its focus on the experience of those in senior roles and on boards, and demand is strong for experienced executives and for CUOs, CROs and Chief Actuaries in particular.”
First-year milestones include an initial AM Best Preliminary Credit Assessment of A- secured for a client carrier, now in BMA licensing alongside other clients, the launch of T8 Partners, and complete leadership team builds delivered for clients.
Ms Kitson added: “I have been the client trying to coordinate six different providers, so we built the firm I wished had existed: a managed end-to-end service, from business plan through licensing, rating and governance to the fully recruited team, with advisory and executive search co-ordinated under one roof. Because in the end, human capital determines whether a company succeeds: the people you hire, the people who advise you, and the people around your board table. A licence, a rating and a capital base are necessary business requirements. What distinguishes the companies that endure is the experience and judgement of the individuals who lead and govern them, and that is why the provision of quality human capital is central to everything we do.”
A spokesperson added, “The leadership team includes Fiona Davies, formerly Group Chief of Staff at life reinsurer Monument Re, and T8 Partners Co-Founders Antony Williams, Jon Sharpe and Aaron Scott, former Directors of one of the UK’s largest [re]insurance recruitment firms. Triangle Eight is also supported on client engagements by a bench of former senior [re]insurance executives and directors who provide flexible, cost-efficient contract resourcing solutions.”
She concluded: “Although our first year has far exceeded our expectations, we are just getting started. We expect to make further announcements with clients in the coming months as they complete their ratings and licensing, together with senior leadership and board appointments. This anniversary is an opportunity to thank Fiona, Antony, Jon, Aaron, Nik, our senior advisers, our clients and everyone who has supported the business.”
