Specialty Treaty Underwriter For Bermuda Carrier

Headquartered in Bermuda, the client is a global specialty insurance and reinsurance company with operations spanning Bermuda, London, the U.S., and Dublin. The firm is known for its data-driven underwriting approach, leveraging advanced technology and analytics to enhance decision-making and profitability.

• Talent Relocation: Securing top-tier underwriting talent from major hubs such as London and New York, while addressing both logistical and emotional considerations of a move to Bermuda.
• Technical Expertise: Identifying candidates with experience across multiple specialty lines, including Marine and Energy, which significantly narrowed the talent pool.
• Cultural & Strategic Fit: Finding an individual who aligned with the company’s emphasis on collaboration, innovation, and data-driven underwriting—qualities not always prevalent in traditional reinsurance underwriting.
• Competitive Compensation: Structuring a package that accounted for Bermuda’s cost of living and lifestyle adjustments to attract high-calibre candidates.

• Using Damhurst’s extensive network and market credibility to attract candidates, we effectively communicated the client’s unique value proposition.
• We identified a market universe of 164 profiles, focusing on senior underwriters and brokers with experience across specialty reinsurance lines.
• From this, we presented a longlist of 15 candidates, with 19% female representation in a traditionally male-dominated sector.
• We worked closely with leadership to refine the ideal candidate profile, ensuring alignment with both strategic priorities and cultural expectations.
• We conducted thorough assessments, including technical interviews and psychometric testing, to ensure the shortlisted candidates met the technical and cultural criteria.
• We supported the candidate throughout the relocation process, advising on the implications of Bermuda’s cost of living, arranging for family accommodation, and providing insights into lifestyle adjustments to ease the transition.

• The final shortlist included a treaty underwriter with expertise in Marine and Energy portfolios across global territories, and a marine treaty underwriter with experience managing diverse specialty lines (with several stints in Bermuda).
• The appointed candidate was a specialty underwriter managing a $40m portfolio across Europe and Scandinavia.
• The candidate was known for his strategic insight, strong broker relationships, and collaborative approach.

The search concluded successfully in 130 days. The client’s first-choice candidate accepted the role and relocated to Bermuda three months later. The offer negotiation was highly complex, requiring adjustments to account for Bermuda’s higher cost of living and lifestyle differences compared to London. Damhurst facilitated the candidate’s transition, addressing logistical concerns and ensuring his family’s relocation was as smooth as possible.