New Hamilton base will cater for US property market

Barbican has launched a new underwriting operation in Bermuda, according to today’s announcements.

Barbican Bermuda will focus on the US property market and will write exclusively on behalf of the Lloyd’s syndicate.

According to reports, Barbican Bermuda will underwrite a direct and facultative portfolio of business on an excess and surplus lines basis, for US-domiciled business, including nationwide, regional and single state/location accounts.

The Hamilton-based operation will be led by Nik Lucking as head of direct and facultative.

Lucking said: “Through Barbican Bermuda, we are able to extend the reach of Barbican’s property division in London and strengthen our US direct and facultative market proposition.”

He added: “From Bermuda, we are able to bring the security of the Lloyd’s market to an even broader spectrum of organisations, introduce greater diversity into our property portfolio and benefit from the stability that this brings.”