Jonathan Stephenson (pictured above), head of office for Brit in Bermuda, has also been appointed to the ABIR board of directors.
With Brit Re’s addition, ABIR now represents 34 re/insurance carriers, its highest membership total to date. The association also includes three intermediaries within its Broker Advisory Cabinet.
ABIR has served as a public policy advocate for Bermuda’s international re/insurance sector for the past 32 years.
Brit Re operates as a full-service reinsurance platform and is a part of Brit Ltd, which is owned by Fairfax Financial Holdings Ltd. Brit is headquartered in the United Kingdom, with offices in London and Bermuda.
The platform redomiciled to Bermuda in 2017 and carries an ‘A’ (Excellent) financial strength rating from AM Best.
With Brit Re’s addition, ABIR’s reinsurance specialists now include:
The association also welcomed Sompo International Holdings Ltd. as a new member in March 2024. Emmanuel Brulé, Sompo’s chief risk officer, joined the ABIR board of directors following this membership.
In 2024, Brit outlined a strategic plan to expand its property, casualty, and specialty reinsurance business in Bermuda. As part of this effort, the company has brought on new personnel to support its growth.
Stephenson, who joined Brit Re in September 2023, previously served as a managing director at Guy Carpenter in Toronto. His career in reinsurance spans over three decades, with prior roles including CEO of Guy Carpenter’s Pacific Region and executive vice president at Aon.
Brit Re’s board was also strengthened in 2023 by the appointment of Jacques Bonneau as a non-executive director. Bonneau, the former CEO of PartnerRe, is based in Bermuda and has held senior leadership positions at Chubb. He also served as a senior adviser to the Bermuda Monetary Authority.
John Huff (pictured above), CEO of ABIR, welcomed Brit Re’s plans for growth, noting that the expansion will benefit both the island and the broader market.
According to ABIR’s 19th annual Economic Substance Survey, its member companies contributed over US$1 billion to Bermuda’s economy in 2023.
The group also remains the island’s largest private-sector employer, with 2,140 full-time employees, including 1,441 Bermudians, spouses of Bermudians, or permanent resident certificate holders.
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