Lottimore was latterly the vice-president, credit lines underwriter at Validus Re. Credit: Hamilton Insurance Group/Business Wire.

Bermuda-based underwriting platform Hamilton Re, part of Hamilton Insurance Group, has expanded into credit, bond and political risk reinsurance.  

This move is marked by the hiring of Sergio Lottimore, who will serve as the vice-president of the new reinsurance line, after working for more than 18 years in specialty and financial lines.  

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Operating out of Bermuda, Lottimore will report to Peter Riihiluoma, senior vice-president and head of specialty reinsurance at Hamilton Re. 

The new offerings will be integrated into the specialty reinsurance portfolio, enhancing Hamilton Re’s ability to meet the diverse needs of its global clientele.  

Most recently, Lottimore was the vice-president, credit lines underwriter at Validus Re. Earlier, he also had a stint at MS Amlin.

Hamilton Re CEO Megan Graves said: “Our expansion into credit, bond and political risk reinsurance marks a significant milestone for Hamilton Re in its commitment to building a globally diversified reinsurance offering. This exciting development is bolstered by Hamilton’s AM Best financial strength rating upgrade to ‘A’ (excellent) announced earlier this year. 

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“I am delighted to welcome Sergio to Hamilton. He brings dedicated expertise and experience in mortgage, trade credit, surety, political risks and structured credit lines to our already strong specialty reinsurance team.” 

Hamilton group also released its financial results for the third quarter of 2024 (Q3 2024) recently.  

The company’s  performance has shown growth, with gross premiums written reaching $553.4m in Q3 2024, a 16.7% increase from the same quarter last year.   

Its net income stood at $78.3m in the three-month-period ended 30 September 2024, up from 43.6m a year ago, while underwriting income grew 17% year-on-year to $29.1m.