Antares, which is part of QIC group, has restructured to bring all its operations together under a single holding company called QIC Antares Holdings Limited, which is incorporated in Bermuda. The move unites Antares’s reinsurance company, its Lloyd’s syndicate and its UK insurance company.

Antares said the new structure would give it more freedom in how it deployed capital across its different operations and would also simplify its regulatory focus.

Kevin Wenzel, chief financial officer of Antares, said: “Whilst there is no impact on day-to-day operations and how we trade with our clients and broker partners, nor for our internal colleagues, the new corporate structure streamlines all our legal entities under a single holding company in Bermuda.

“This now allows us to more easily move capital within Antares to support our business growth ambitions and provides a clear single focus for Antares group regulation with the Bermuda Monetary Authority.”