Tag: #BermudaInsurance

OneBeacon Insurance Exits Crop Business

OneBeacon Insurance Exits Crop Business

OneBeacon Insurance Group has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services, Inc. [AmTrust]. The company’s existing crop insurance business has been transferred to AmTrust, including policyholder servicing. OneBeacon President and CEO Mike... Read more of this article

WTM Adjusted Book Value Per Share Of $671

WTM Adjusted Book Value Per Share Of $671

Bermuda-domiciled White Mountains Insurance Group, Ltd. [WTM] reported an adjusted book value per share of $671 at June 30, 2015, up 1.1% for both the second quarter and first six months of 2015, including dividends. Ray Barrette, Chairman and CEO, commented, “It was a solid quarter.  Sirius Group reported a 78% combined ratio continuing... Read more of this article

Student Presentations Following BFIS Internships

Student Presentations Following BFIS Internships

On Friday, July 24, this summer’s BFIS Interns gave ‘standing room only’ presentations to over 60 insurance professionals, parents, former interns and BFIS scholars in the training room at KPMG, on their experiences in the insurance markets of Atlanta, Bermuda, Chicago and London. Although the BFIS intern programmes are short, [Bermuda – 3 weeks,... Read more of this article

PwC: Top Risks For Bermuda Reinsurance Sector

PwC: Top Risks For Bermuda Reinsurance Sector

A new survey charting the top risks in the Bermuda and global insurance sector shows that cyber risk and interest rates are now among the top risks for insurers and reinsurers. Their entry, new into the rankings of this fifth successive survey, are indicative of how high a concern they have become for the industry. The CSFI’s latest ‘Insurance Banana... Read more of this article

White Mountains Group To Sell Sirius To CMI

White Mountains Group To Sell Sirius To CMI

White Mountains Insurance Group, Ltd. [WTM] has signed a definitive agreement to sell Sirius International Insurance Group, Ltd.[Sirius] to CM International Holding PTE Ltd., the Singapore-based investment arm of China Minsheng Investment Corp., Ltd. [CMI]. The purchase price will be paid in cash in an amount equal to 127.3% of Sirius’s closing... Read more of this article

BFIS Provides $445,000 In Scholarship Awards

BFIS Provides $445,000 In Scholarship Awards

On Monday July 20th, the Bermuda Foundation For Insurance Studies [BFIS] awarded $445,000 in scholarship funding to 12 students focused on careers in Bermuda’s insurance sector. This brings the total amount of funding that the Foundation has given out since it was formed in 1996 to $5.5 million – all funded by the insurance industry. BFIS 2015... Read more of this article

Xuber’s White Paper Reveals Executive Insights

Xuber’s White Paper Reveals Executive Insights

Xuber, Xchanging’s insurance software business which delivers solutions to the commercial insurance and reinsurance marketplace, recently gathered a group of executives on the island to talk about market conditions, innovation, technological change and analytics. Faced with a raft of challenges such as third-party capital, soft market conditions and... Read more of this article

Bermuda-Based Chinese Insurer Signs Deal

Bermuda-Based Chinese Insurer Signs Deal

A Bermuda-based Chinese insurance company is poised to launch an innovative risk-industry product under a deal signed in Hamilton this month. A signing ceremony, held earlier this month at the Hamilton Princess hotel to formally mark the new venture, was attended by Chinese and Bermuda companies, Bermuda’s regulator, and the Bermuda Business Development... Read more of this article

Bermuda Convergence To Be Held In November

Bermuda Convergence To Be Held In November

The Bermuda Convergence 2015 will be held November 11–13, at Pier 6 in Hamilton, Bermuda. The newly expanded steering committee of ILS Bermuda Ltd. has been busy planning the event which is expected to attract more than 300 delegates from around the world. Last November, the Bermuda Convergence 2014 event was hailed a major success, drawing more than... Read more of this article

A.M. Best Affirms Ratings Of MS Frontier

A.M. Best Affirms Ratings Of MS Frontier

Rating company A.M. Best has affirmed the financial strength rating of A [Excellent] and the issuer credit rating of “a+” of MS Frontier Reinsurance Limited [MS Frontier] [Hamilton, Bermuda]. The outlook for both ratings is stable. MS Frontier is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Limited [MSI], which is a subsidiary... Read more of this article

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