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JLT Towers Re merges Bermudian operations

JLT Towers Re has merged its two Bermudian operations to launch a new combined entity following JLT Re’s acquisition of Towers Watson’s reinsurance broking arm.

The new entity, known JLT Towers Re Bermuda, has been created through the merger of the businesses formerly known as JLT Re Bermuda and Towers Watson Re Bermuda.

JLT Towers Re Bermuda executive, Bradley Maltese, said: "Bermuda is a key marketplace and this team will help us enhance relationships with Bermudian carriers and provide further impetus to JLT Towers Re’s growth aspirations in a number of classes of business."

According to JLT, Guy Hengesbaugh will manage the daily operations and also continue to work alongside George Daddario and other colleagues providing services to the firm’s North American clients.

Charles Withers-Clarke will head up the specialty classes including aviation, energy, marine and space but will also work with other members of the team on specific P&C opportunities.

Furthermore, Gary Reynolds and Tom Doyle will be responsible for leading ILW’s, Property and Retro working in collaboration with colleagues both in the US and London.

The combined businesses in Bermuda will be operated from a single base at JLT Park Limited, which is wholesale broking operation specializing in the fields of property, casualty, professional liabilities, healthcare and construction.

Paul Scope, chairman and CEO of JLT Park Limited, said: "We are delighted JLT Towers Re Bermuda will be based in the same office as JLT Park. This will create increased opportunity for these teams to work together and capitalise on each other’s expertise and specialist knowledge."