Hashtag: #BermudaInsurance

“World’s First Captive To Insure Crypto Custody”

“World’s First Captive To Insure Crypto Custody”

Premier David Burt announced that Gemini Trust Company, LLC — a cryptocurrency exchange and custodian — has launched Nakamoto, Ltd. a captive insurance company licensed by the Bermuda Monetary Authority [BMA] to insure Gemini Custody. “Nakamoto — the world’s first captive to insure crypto custody — allows Gemini Custody to increase... Read more of this article

AXIS Expands Renewable Energy Expertise

AXIS Expands Renewable Energy Expertise

AXIS Insurance, the insurance business segment of AXIS Capital Holdings Limited, announced the appointments of Sam Walsh as senior underwriter and Mat Pifer as an underwriter in its renewables division. Messrs. Walsh and Pifer will be jointly responsible for underwriting new and renewal, property and liability renewable energy business in North America,... Read more of this article

Helix Underwriting Launches Bermuda Platform

Helix Underwriting Launches Bermuda Platform

Helix Underwriting Partners Ltd. [Helix] has received all necessary approvals to commence operations and has entered its first agency agreement to underwrite Middle Market Property Insurance on behalf of QBE in Bermuda. “Founded by industry veterans Claude Lefebvre, Nicholas Lucking and Neville Weston, Helix has been incorporated as the first... Read more of this article

ABIR Announces New Leadership Appointments

ABIR Announces New Leadership Appointments

The Association of Bermuda Insurers & Reinsurers [ABIR] today [Jan 8] announced a slate of new leadership appointments of member-company industry executives. Edward Mishambi of RenaissanceRe will become Chair of ABIR’s Policy Committee. The committee reviews insurance regulation in Bermuda and overseas, international regulatory standards, public... Read more of this article

Apply For BILTIR Summer Intern Programme

Apply For BILTIR Summer Intern Programme

Bermuda International Long Term Insurers and Reinsurers [BILTIR] is inviting local students to apply for a 10 week summer internship with a member company. BILTIR, which represents the island’s long-term insurers and reinsurers who provide life and annuity products, hopes the internship programme “will create a pipeline of local life insurance... Read more of this article

Hamilton Announce ILS Platform Developments

Hamilton Announce ILS Platform Developments

Hamilton Insurance Group Ltd today [Jan 7] announced that its insurance-linked securities [ILS] platform has a new name and a new lead executive. A spokesperson said, “Formerly called Hamilton Capital Partners, the platform is now Hamilton ILS. Hanni Ali moves from his role as Senior Vice President, Risk & Analytics, Hamilton Re, Ltd., to... Read more of this article

Randall & Quilter Acquires Barbados Insurer

Randall & Quilter Acquires Barbados Insurer

Randall & Quilter Investment Holdings Ltd. [R&Q] announced that its wholly-owned subsidiary R&Q Re [Bermuda] Limited has completed the acquisition of the Barbados insurer, Distinguished Re Ltd, formerly known as the Saranac Insurance Company, Ltd., a wholly owned subsidiary of Distinguished LLC. A spokesperson said, “Distinguished... Read more of this article

AXA XL Reinsurance Leadership Team Changes

AXA XL Reinsurance Leadership Team Changes

AXA XL has announced additional changes within its Reinsurance Leadership Team [RLT], effective January 1. A spokesperson said, “The changes are part of AXA XL Reinsurance’s simplified Reinsurance organizational structure which was announced in September. The structure is aligned around AXA XL Reinsurance’s key markets and intended to enhance... Read more of this article

AM Best Affirms Credit Ratings Of Argus Group

AM Best Affirms Credit Ratings Of Argus Group

AM Best has affirmed the Financial Strength Rating [FSR] of A- [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “a-” of Argus Insurance Company Limited and Bermuda Life Insurance Company Limited. Both companies are subsidiaries of Argus Group Holdings Limited. Concurrently, AM Best has affirmed the Long-Term ICR of Argus Group... Read more of this article

BILTIR Announces 11% Membership Growth

BILTIR Announces 11% Membership Growth

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that membership grew by 11% in 2019. A spokesperson said, “The number of companies joining BILTIR, which represents the island’s long-term insurers and reinsurers who provide life and annuity products such as pensions, grew from 55 to 61 this year. “Five reinsurance... Read more of this article

Minister On NAIC Reciprocal Jurisdiction Status

Minister On NAIC Reciprocal Jurisdiction Status

NAIC announced that Bermuda has been granted Reciprocal Jurisdiction status and has also approved Bermuda as a Qualified Jurisdiction, Minister of Finance Curtis Dickinson said in the House of Assembly today [Dec 13]. The Minister’s full statement follows below: Mr. Speaker, I am pleased to be able to provide the House of Assembly with an update... Read more of this article

Insurance Market Celebrates Reciprocal Status

Insurance Market Celebrates Reciprocal Status

Bermuda’s global insurance market praised the efforts of the Bermuda Monetary Authority [BMA] and the strength of its regulatory regime in being granted Reciprocal Status, a new designation introduced this year, by the National Association of Insurance Commissioners [NAIC], the U.S. insurance regulatory body. Bermuda’s elevated status, effective... Read more of this article

NAIC Grants Bermuda Reciprocal Jurisdiction

NAIC Grants Bermuda Reciprocal Jurisdiction

The National Association of Insurance Commissioners [NAIC] has announced that Bermuda has been granted Reciprocal Jurisdiction status effective January 1, 2020, while also approving the island as a Qualified Jurisdiction. A spokesperson said, “The National Association of Insurance Commissioners announced today that Bermuda has been granted Reciprocal... Read more of this article