Beazley adds to Bermuda presence with new office and Wunderlich ART appointment

Beazley has appointed Stefan Wunderlich as head of alternative risk transfer, alongside his existing role as head of parametric.

Wunderlich will relocate to Bermuda, subject to immigration approval.

The specialty insurer has also confirmed its new Bermuda office location at Ninety-One, 91 Front Street, which is scheduled to open in June 2027.

Beazley said the moves strengthen its commitment to Bermuda as a strategic hub for complex and specialty solutions, including alternative risk transfer, mortgage indemnity insurance and property treaty reinsurance.

Paul Bantick, group chief underwriting officer at Beazley, said: “We are moving at pace to build out our presence in Bermuda.

“We have a growing team on the ground, are already successfully underwriting Property Treaty and the deployment of Stefan’s expertise will see a step change in our ART offering, which includes parametrics.

“It’s exciting to be part of Bermuda’s innovative insurance community and have the opportunity to better support our brokers and clients manage complex risks.”

Beazley’s office lease at Ninety-One was secured through Brookfield Asset Management.

The development, formerly called Brookfield House, is located at 91 Front Street in Hamilton, Bermuda’s capital.

The nine-storey building (pictured) is expected to open in June 2026, adding more than 55,000 square feet of commercial space and around 3,000 square feet of retail space to the City of Hamilton.

Beazley’s office is scheduled to open one year later, in June 2027.

Brookfield will occupy the first three floors of the property.

Charlie Howe, head of commercial development at Brookfield Asset Management, said: “Beazley’s commitment to Ninety-One represents an important milestone for the project.

“It reflects the strong market confidence in the quality, location, and vision behind this development, and reinforces our belief that Ninety-One will set a new benchmark for commercial space in Bermuda.

“We are delighted to welcome Beazley and look forward to more tenant announcements as the project progresses toward completion.”

Brookfield was represented by Penny MacIntyre and Keegan Stirling of Rego Sotheby’s International Realty.

Penny MacIntyre, partner at Rego Sotheby’s International Realty, added: “With the least amount of Class A office space available in our market for nearly two years now, Beazley marks the first in a series of international ‘new-to-Bermuda’ companies recognizing the critical timing to secure the Class A+, harbor view office floors at Ninety-One.”