Continuing its specialized growth strategy, Bermuda based Overseas Partners Ltd.(OPL) announced that it has acquired “a team of finite risk professionals from Stockton Re, Bermuda, a recognized leader in the finite risk market.”
Mary Hennessey, OPL President and CEO stated, “The market for quality finite opportunities is rapidly expanding, and we believe this timely move will add significant long-term profits to one of OPL’s core businesses. The addition continues our strategy of hiring strong technical talent in specialized areas to better serve our international clients.”
The team will be the core of a new division, OP Finite, to be headed by former Stockton Re President Jed Rhoads.
The move creates an ongoing working relationship between OPL and Stockton Re, which “will continue its presence in the Bermuda finite risk market through a strategic alliance with OPL wherein it will provide retrocessional support on designated finite risk programs, and where certain types of finite risk business identified by OP Finite will be underwritten on Stockton’s behalf,” said the announcement.
Topics Mergers & Acquisitions
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