Chubb Bermuda has announced the appointment of David Jenkins to the role of senior vice president and head of Bermuda Property.
In his new role, Jenkins will oversee the Bermuda-based property underwriters and will be responsible for driving the growth and profitability of Chubb Bermuda’s excess property business, according to a news release. He will continue reporting to Robert Rebellato, senior vice president and head of excess property at Chubb Bermuda.
“David’s deep expertise and leadership have been instrumental in strengthening our excess property business,” said Rebellato. “As we celebrate 30 years of Chubb Bermuda Property this spring, David is the ideal candidate to enhance our underwriting capabilities, deliver innovative solutions, and ensure long-term stability for our clients in an evolving risk landscape.”
Jenkins, who has been with Chubb since 2002, brings over 30 years of experience in the US, the UK, and Bermuda insurance markets. In his prior role as senior vice president for property underwriting, he was responsible for writing general property business and specialty lines.
Chubb, operating in 54 countries and territories, provides a range of commercial and personal property, casualty, and other insurance products.
As the year progresses, Bermuda’s insurers are grappling with rising loss costs and premium pressures. Fitch Ratings projects a combined ratio of approximately 90% for the full year, up from 86.5% in 2024. Industry experts note that the January 2025 reinsurance renewals highlighted a peak in market pricing, although there is a potential for softening in mid-2025. Despite these challenges, Bermuda-based insurers are expected to maintain strong capital positions, which should help sustain favorable risk-adjusted returns.
The Bermuda Risk Summit 2025 underscored growing concerns about climate change, with experts warning of the increasing risks of extreme heat, wildfires, and storms. These developments emphasize the need for innovative risk management solutions as insurers brace for rising claims in the wake of more frequent and severe weather events.
What are your thoughts on the recent appointment? Share your thoughts below.
