Hardy targets D&F in Bermuda
March 05, 2010
LLOYD’S insurer Hardy aims to expand the scope of its new Hardy Bermuda operations to include a direct and facultative portfolio and hopes to have a dedicated underwriter on the ground in time. Hardy redomiciled to Bermuda in 2008 and its Hardy Bermuda underwriting operations began writing in May last year, writing on behalf of its syndicate 382 and focusing on US property treaty business. Now the group is looking to expand the scope and hopes the move will give it access to business it does not already see in Lloyd’s. Hardy’s chief executive Barbara Merry said the advantage of a D&F presence in Bermuda was the lack of competition compared with Lloyd’s. “Although quite a lot of [D&F business in Bermuda] comes to Lloyd’s, in Lloyd’s there would be 40-odd other people looking to write it. In Bermuda there are only 10 or...