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Aspen Initial Hurricane Loss Estimate: $310M

Aspen Initial Hurricane Loss Estimate: $310M

Bermuda-based Aspen Insurance Holdings Limited announced a preliminary estimate of approximately $310 million in pre-tax losses, net of reinsurance and reinstatement premiums, related to Hurricanes Harvey, Irma and Maria. Approximately $110 million of these losses are from Hurricane Harvey, $135 million from Hurricane Irma and $65 million from Hurricane... Read more of this article

EAP To Host Annual General Meeting On Oct 25

EAP To Host Annual General Meeting On Oct 25

The Employee Assistance Programme [EAP] of Bermuda will host its Annual General Meeting [AGM] on Wednesday, 25 October 2017 at 4:00 pm. EAP this year celebrates 30 years of service to Bermuda’s corporate community, which is reflected in the event’s theme: 30 Years of Listening. Doris DeCosta, Executive Director of EAP commented, “This year, the... Read more of this article

Argo Preliminary Loss Estimates: $85-$110M

Argo Preliminary Loss Estimates: $85-$110M

Bermuda-based Argo Group International Holdings announced preliminary pre-tax catastrophe loss estimates for the three-month period ended September 30, 2017 of $85-110 million, net of ceded reinsurance recoverables, reinstatement premiums and expected profit commissions. “We are well positioned to meet the needs of our clients and provide coverage... Read more of this article

MediaAlpha Acquires Health & Life Business

MediaAlpha Acquires Health & Life Business

White Mountains Insurance Group announced that its portfolio company, MediaAlpha, has acquired from Healthplans.com certain assets associated with its health and life insurance business. Terms of the transaction were not disclosed. The acquisition will expand MediaAlpha’s footprint in the health insurance and life insurance verticals and increase... Read more of this article

Bermuda Stock Exchange Report: Oct 16 2017

Bermuda Stock Exchange Report: Oct 16 2017

October 16 saw 500 shares trade on the Bermuda Stock Exchange, valued at $1,900.00 BD. 500 shares were traded by Argus Group Holdings Ltd, closing down 5.0% at $3.80 per share. The BSX finished at 2,143.45, down 0.19% on the day. There were 0 advances, 1 decline, and 59 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article

QuoVadis Accredited As Qualified TSP In Europe

QuoVadis Accredited As Qualified TSP In Europe

QuoVadis has been accredited in the Netherlands under the Qualified Trust Service Provider [TSP] regulations under eIDAS, the regulation which establishes updated electronic identification and trust services for electronic transactions in the European Union. Founded in Bermuda, QuoVadis is a leading global Certification Authority [CA] providing cloud-based... Read more of this article

BILTIR To Present At SoA Annual Meeting

BILTIR To Present At SoA Annual Meeting

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that four of its member companies will give a presentation about the Bermuda life reinsurance industry at the prestigious Society of Actuaries [SoA] Annual Meeting in Boston, being held from October 15 to October 18. A spokesperson said, “BILTIR member companies and... Read more of this article

BAS Donate $2K To Support Children’s Literacy

BAS Donate $2K To Support Children’s Literacy

Bermuda Aviation Services Limited [BAS] has donated $1,000 each to The Reading Clinic and The Bermuda Alumnae Chapter of Delta Sigma Theta Sorority Inc. 18th Annual Children’s Reading Festival. Belinda Cameron and Sierra Paynter, representatives of BAS, presented the $2,000 worth of donations to Reading Clinic Executive Director Dr Glenn Faries and... Read more of this article

Video: Interview With Leila Madeiros From ABIR

Video: Interview With Leila Madeiros From ABIR

Payments by Bermuda re/insurers following the recent hurricanes, mergers & acquisitions in the industry, and local taxes were some of the topics that Leila Madeiros from the Association of Bermuda Insurers and Reinsurers [ABIR] discussed as she sat down with Bernews this week for a live interview on our Facebook page.Speaking with guest interviewer... Read more of this article

Shipping Schedule: Week Starting October 14

Shipping Schedule: Week Starting October 14

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday October 14th.On Monday the Oleander container ship, the Grandeur of the Seas and the Viking Sea cruise ships are expected, on Tuesday the Industrial Song general cargo ship is scheduled to arrive. On Wednesday the Carnival... Read more of this article

RMS: US Insured Nate Losses Below $500M

RMS: US Insured Nate Losses Below $500M

Based on analysis from RMS, a leading risk management and analytics firm, U.S. insured losses associated with wind and coastal flooding from Hurricane Nate will not exceed USD $500 million. This season, insured losses from U.S. hurricanes are expected to total between USD $75 and $120 billion. The damage resulting from Nate is not expected to constitute... Read more of this article

Bermuda Stock Exchange Report: Oct 13 2017

Bermuda Stock Exchange Report: Oct 13 2017

October 13 saw 10,100 shares trade on the Bermuda Stock Exchange, valued at $63,855.00 BD. 6,400 shares were traded by One Communications Ltd, closing even at $2.90 per share, while another 2,000 shares were traded by BF&M Ltd, closing down 0.3% at $19.05 per share. 1,500 shares were traded by Argus Group Holdings Ltd, closing up 6.1% at $4.00... Read more of this article

BSX Moving To A T+2 Settlement Cycle

BSX Moving To A T+2 Settlement Cycle

The Bermuda Stock Exchange [BSX] today announced that effective Monday, October 23rd the Exchange will be moving to a T +2 [trade date plus two days] settlement cycle. This following an announcement last month by both the US’ Depository Trust Companies and Canada’s Central Securities Depositories [CSDs] that they were joining many European Union... Read more of this article