QBE’s specialist reinsurance division is setting up an underwriting operation in Bermuda to write property and casualty treaty business.

Chief Underwriting Officer Jonathan Parry says with QBE Re well established following its 2012 launch “we have taken the decision to enhance our distribution base and access locally the business that emanates from this important market”.

The Bermuda operation will be led by Erik Soria, who has transferred from QBE Re’s New York office, where he was senior underwriter.