Hamilton Insurance Group, the Bermuda-based holding company of property casualty reinsurer Hamilton Re and the organization’s U.S. property casualty insurance operations Hamilton USA, has announced that Dermot O’Donohoe, former CEO of Torus’ International Operations, will lead the development of Hamilton’s operations at Lloyd’s specialist insurance market.
Subject to approval from Lloyd’s, the Prudential Regulation Authority, and the Financial Conduct Authority, O’Donohoe will be appointed to the position of CEO of Sportscover Underwriting Limited, the managing agency of Syndicate 3334. Hamilton intends to rename Sportscover as Hamilton Underwriting Limited, pending requisite approvals.
O’Donohoe’s appointment follows the insurance group’s announcement last November that it had entered into a Share Purchase Agreement with Australian-based Wild Goose Holdings to acquire Sportscover and Kinetic Insurance Brokers Limited, a Lloyd’s insurance broker.
O’Donohoe’s appointment underscores Hamilton’s ongoing strategy to development its international business and its participation in Lloyds, which Hamilton notes has critical influence in the global marketplace. According to the insurance group, O’Donohoe has in-depth knowledge of the Lloyd’s and European markets.
“I am delighted to announce that Dermot will be joining the Hamilton team,” Hamilton CEO Brian Duperreault said. “He’s a superb underwriter with more than 30 years’ experience in the United Kingdom and Europe. During that time, he profitably led, developed and grew many lines of business.
O’Donohoe said in the statement that he is impressed with the way Duperreault and his team have been executing their strategy to build a diversified global platform. “The group’s emphasis on underwriting profit and leading technology deployment will serve our clients and brokers well. I’m honored to be joining this exciting venture and contributing to its future success,” he said
O’Donohoe most recently held the position of Group CEO of global specialty insurer Torus Group, where he oversaw the successful transition of Torus’ ownership to Bermuda-based Enstar in 2014. O’Donohoe joined Torus in 2009 and, until his departure in mid 2014, held a variety of executive-level positions, including Global Head of Specialty and CEO of Torus International.
From 1995 to 2009, O’Donohoe was employed at XL Group, serving at various points as President and CEO, XL Europe; CEO, XL Insurance Co. Ltd.; and CEO, XL London Market Ltd., the managing agency for Syndicate 1209. He holds a Bachelor of Business Studies degree from Trinity College, Dublin, Ireland, and a Master of Arts in Financial Control from Dublin City University. He is an Associate of the Chartered Insurance Institute and a member of the Marketing Institute of Ireland.
