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Sompo Announce Plans For European Expansion

Sompo Announce Plans For European Expansion

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance and wholly owned subsidiary of Sompo Holdings, Inc., plans to establish a new European insurance headquarters based in Luxembourg. The new entity, SI Insurance [Europe], will also write reinsurance business. “European business... Read more of this article

$208 Billion Paid To US Customers Since 1997

$208 Billion Paid To US Customers Since 1997

Bermuda reinsurers paid out US$208.7 billion to US policyholders and cedants for large catastrophes, related property insurance and general liability losses over the past 20 years, according to commercial market claims data collected by the Bermuda Monetary Authority. “From 1997 to 2006, claims payments to US policyholders and cedants totalled... Read more of this article

Easterly Joins Forces With White Mountains

Easterly Joins Forces With White Mountains

Easterly Partners Group, an asset management holding company that owns stakes in third-party asset management businesses and assists them with strategic growth, and White Mountains Insurance Group, Ltd., a Bermuda-domiciled financial services holding company with approximately $3.6 billion in assets, announced that they have entered into a strategic... Read more of this article

AM Best: Profits Could Drop To Six-Year Low

AM Best: Profits Could Drop To Six-Year Low

A catastrophe-ridden 2017 could drive the overall profitability level for A.M. Best’s composite of global reinsurers to a six-year low, according to a new Best’s Briefing. The briefing, titled, “Global Reinsurance – Where Have All the Losses Gone?” projects an estimated combined ratio of 110% for this sector, with return on equity [ROE] ranging... Read more of this article

Berkeley Students Attend BILTIR Lunch & Learn

Berkeley Students Attend BILTIR Lunch & Learn

Bermuda International Long Term Insurers and Reinsurers [BILTIR] today [Nov 2] held its second Lunch and Learn, entitled “A Career in the Life Insurance and Reinsurance Industry”, to a group of Berkeley Institute students at the offices of Global Atlantic Re, a BILTIR member company. The programme focused on Bermuda’s thriving life insurance industry... Read more of this article

Sompo International Launches AgriSompo

Sompo International Launches AgriSompo

Sompo International Holdings Ltd. [SIH], a Bermuda based specialty provider of property and casualty insurance and reinsurance, is launching an initiative to create an integrated platform to provide agriculture insurance and reinsurance solutions across the globe. The new global platform, AgriSompo, will deliver a common underwriting approach with shared... Read more of this article

Sompo Holdings Strengthens Position In Africa

Sompo Holdings Strengthens Position In Africa

Sompo International Holdings Ltd. [SI], a Bermuda-based specialty provider of property and casualty insurance and reinsurance and wholly owned subsidiary of Sompo Holdings, Inc. [Sompo], announced the launch of a new strategic partnership in Africa. Sompo International will form alliances with both Sanlam Limited and SAHAM Finances through a partnership... Read more of this article

350 People From 12 Nations Attend Convergence

350 People From 12 Nations Attend Convergence

On October 18 – 19, a record number of over 350 attendees from 12 different countries arrived at the Hamilton Princess for Bermuda Convergence 2017 – a networking event covering the alternative reinsurance, ILS and collateralised reinsurance landscape, now in its fifth year. The organisers said, “Initial feedback from delegates and sponsors... Read more of this article

Pina Albo Appointed CEO Of Hamilton Insurance

Pina Albo Appointed CEO Of Hamilton Insurance

The Board of Directors of Hamilton Insurance Group, the Bermuda-based holding company for property and casualty insurance and reinsurance operations in the US, Bermuda and at Lloyd’s, today announced that, subject to approval by the Bermuda Department of Immigration, Pina Albo has been appointed to the position of Chief Executive Officer. Ms. Albo,... Read more of this article

Francis Promoted To President Of Horseshoe Re

Francis Promoted To President Of Horseshoe Re

Horseshoe Group CEO Andre Perez announced the promotion of Yulanda Francis to the position of President – Horseshoe Re. She will report directly to the CEO. In addition to retaining her current responsibilities for client servicing within the Group’s collateralized reinsurance platform, Horseshoe Re, the Treasury and Underwriting teams will report... 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

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

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