IQUW Re Bermuda has expanded its predominantly Property Cat Reinsurance product suite with the additions of Mortgage, Credit, and Cyber Reinsurance to its portfolio.
“This development marks the next stage in IQUW’s progress in Bermuda, underscoring the platform’s profitable growth and developing a reputation as one of the island’s recent success stories,” the firm said in a statement.
IQUW Re Bermuda continued, “The Cyber insurance sector is experiencing sustained growth and significant underinsurance in parts of the SME sector. Meanwhile, rising credit pressures in consumer and commercial portfolios highlight the need for strategic reinsurance solutions.
“In the Mortgage market, with an expectation of lower US interest rates in the future, we anticipate increased mortgage refinancing and origination volumes to drive more capital needs across this sector. Now is an opportune moment to bring disciplined mortgage risk capacity to market.”
Stephen Young, CEO of IQUW Bermuda, commented, “We are incredibly proud of the strong team we’ve built in Bermuda. Backed by our A- AM Best rating and a robust capital base, launching Mortgage, Credit, and Cyber Reinsurance products is the natural step forward.
“We’re well-positioned to serve reinsurance markets with data-led underwriting and to adapt to evolving risk appetites.”
Young continued, “IQUW Re Bermuda is supported by strong capital, an experienced team and a proven ability to deliver results.
“The platform is evolving into a strategic growth engine for the IQUW Group. With new product momentum and a focus on data-driven underwriting, IQUW Re Bermuda is set to play an increasingly influential role in the global reinsurance market.”
About the Author
