American Safety Insurance has established a new company in UK, the new American Safety UK, which will generate casualty treaty reinsurance for American Safety Reinsurance.
The operations of the new UK branch are expected to begin in the second quarter of 2012, subject to regulatory approval, and will complement those of American Safety Reinsurance.
American Safety Insurance Holdings chief executive officer Stephen Crim said the formation of American Safety UK, Limited is part of the company’s strategy to build scale in its reinsurance operations.
"We are particularly pleased to have such an accomplished executive with in-depth reinsurance experience join our organization," Crim said.
The company has also appointed Barry Slater as the director of American Safety UK.
Prior to joining American Safety, Slater held the positions as executive director of Oxford Insurance Brokers, and Casualty Operations director of Catlin Group.
American Safety Reinsurance chief underwriting officer Nick Pascall said having a permanent presence in the London market will enhance the group’s ability to service its clients and brokers, and will provide diversification within the reinsurance portfolio.