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Raising Profile Of Life & Annuity Insurance Sector

Raising Profile Of Life & Annuity Insurance Sector

The Bermuda Business Development Agency [BDA] is partnering with the island’s fast-growing life and annuity re/insurance sector to promote a strong presence at the industry’s largest US conference this spring. For the first time, the BDA will team with Bermuda International Long Term Insurers & Reinsurers [BILTIR] to lead an industry delegation... Read more of this article

Arch Updates Catastrophe Loss Estimates

Arch Updates Catastrophe Loss Estimates

During the fourth quarter of 2018, there were a number of catastrophes around the globe, including Hurricane Michael, wildfires in California and a series of smaller events. Arch Capital Group Ltd. has established a range of pre-tax losses of $110 million to $130 million for these events, net of reinsurance recoveries and reinstatement premiums. “For... Read more of this article

Premia Acquires Public Service Insurance

Premia Acquires Public Service Insurance

Premia Holdings has acquired Public Service Insurance Company [PSIC] and its wholly-owned subsidiary Western Select Insurance Company [WSIC] from the Director of the Illinois Department of Insurance, acting in her capacity as statutory and court affirmed Rehabilitator for Public Service Insurance Company [Rehabilitator]. “In this groundbreaking... Read more of this article

Liberty Announces New Limestone Transaction

Liberty Announces New Limestone Transaction

Liberty Mutual completed a new transaction utilizing the Limestone Re capital markets platform that provides approximately $150 million of collateralized reinsurance capacity for its U.S. property catastrophe program, as well as its U.S. homeowners and global property reinsurance businesses. The transaction is comprised of $58 million of Bermuda Stock... Read more of this article

Argo Appoints Wharton To Head Of Insurance

Argo Appoints Wharton To Head Of Insurance

Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance, announced the appointment of Bill Wharton to Head of Argo Insurance Bermuda, effective immediately. Mr Wharton will also continue as Head of Professional Lines in Bermuda. This change comes as former Head of Argo Insurance Bermuda, Nigel Mortimer,... Read more of this article

Albert Benchimol Elected New ABIR Chair

Albert Benchimol Elected New ABIR Chair

The Association of Bermuda Insurers & Reinsurers [ABIR] today [Jan 7] announced its biennial election of new officers for 2019–20. New ABIR officers elected at the organization’s recent board meeting are: Chair Albert Benchimol, President & CEO of AXIS Capital; Deputy Chair Marc Grandisson, President & CEO Arch Capital Group; and Second... Read more of this article

White Mountains Minority Investment In Noblr

White Mountains Minority Investment In Noblr

Bermuda-domiciled White Mountains Insurance Group, Ltd. [WTM] announced today [Jan 7] that it has acquired a minority equity stake in Noblr, Inc .Noblr is a new property and casualty insurance provider, with its first product offering focused on personal auto insurance. It provides consumers with real-time insurance rates and real-time feedback on driving... Read more of this article

Butt Inducted Into Insurance Hall Of Fame

Butt Inducted Into Insurance Hall Of Fame

AXIS Capital Holdings Limited announced that the International Insurance Society [IIS] has inducted Michael Butt OBE, Chairman of AXIS Capital, into the Insurance Hall of Fame and named Mr. Butt the 2019 Insurance Hall of Fame Laureate. Mr. Butt will be honored at the IIS Global Insurance Forum’s Gala Awards taking place on June 20 in Singapore. “We... Read more of this article

BFIS Hold Student Christmas Networking Event

BFIS Hold Student Christmas Networking Event

The Mentor Network Committee of the Bermuda Foundation For Insurance Studies [BFIS] switched up its Christmas networking lunch for college students by holding a coached interactive event. Held at O’Hara House, courtesy of AXA XL, on December 28th it was well attended by over 50 students and insurance professionals.Led by Pamela Barit Nolan of Transform... Read more of this article

Arch Complete Acquisition UK Commercial Lines

Arch Complete Acquisition UK Commercial Lines

Arch Insurance Europe has completed the acquisition of the UK Commercial Lines business owned by The Ardonagh Group and part of its Geo Underwriting [Geo] operating segment. The acquired business, which generated more than £150 million of Gross Written Premium in 2017, will become the newly formed Arch UK Regional Division, focused on commercial property,... Read more of this article

ABIR Support Implementation Of ESA Legislation

ABIR Support Implementation Of ESA Legislation

Bermuda’s leading international insurers and reinsurers, through ABIR, said they “continue to fully support the Bermuda Government’s commitment to facilitate tax transparency and compliance with global standards and maintain the jurisdiction’s top-class reputation.” ABIR noted that the Bermuda Government enacted the Economic Substance... Read more of this article

ABIR Companies Give Back Over Festive Season

ABIR Companies Give Back Over Festive Season

With the holidays in full swing, it’s the season to enjoy time with friends and family, and many in the island’s international insurance and reinsurance industry are taking time to give back to the community. Kevin O’Donnell, President and CEO of RenaissanceRe Holdings and current Chair of ABIR said, “ABIR’s most significant contribution... Read more of this article

Apply For Hamilton Re Intern Programme

Apply For Hamilton Re Intern Programme

Hamilton Re, the Bermuda platform for Hamilton Insurance Group, is inviting applications from students entering their junior year of college who are interested in participating in an intern programme during the summer of 2019. Reporting into the Catastrophe Modelling team, the internship programme provides an opportunity for two undergraduate students... Read more of this article