Carvill Expands Bermuda Office
NU Online News Service, Nov. 3, 4:02 p.m. EST?Carvill, a reinsurance intermediary in specialty business, announced it is expanding its presence in Bermuda and will be moving to larger offices in Hamilton.[@@]
The company said it has signed a long-term lease and will begin occupancy of its new quarters in early 2005.
Ron Carlier, chief executive officer of Carvill, said, "We already have strong production capabilities in the U.S. and London, which we continue to build."
He said the growth of the Bermuda marketplace and resulting opportunities makes the timing right for this development. For example, he said, more than 30 percent of the world's captive market is domiciled in Bermuda, and there is an ever-increasing industry presence.
Nigel Clark, president of Carvill (Bermuda) Ltd., said, "We have been able to significantly increase our Bermuda domiciled client base and that has provided a platform for this expansion."
Carvill said it has had an office in Bermuda for more than 20 years and will be recruiting a number of new employees from within Bermuda to work in the new office.
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