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Convex Group Raises $1B Of Additional Capital

Convex Group Raises $1B Of Additional Capital

Onex Corporation and its affiliated funds, along with GIC, announced that they and a consortium of existing and new co-investors have committed to invest $1 billion in Convex Group Limited. A statement from the company said, “Convex is a specialty insurer and reinsurer focused on complex risks that launched with $1.7 billion of committed capital in... Read more of this article

ABIR: ‘Recruit The Next Generation In Bermuda’

ABIR: ‘Recruit The Next Generation In Bermuda’

The Association of Bermuda Insurers & Reinsurers [ABIR] announced a new partnership with Bermuda College and New York’s St. John’s University to “recruit the next generation of re/insurance leaders in Bermuda.” A spokesperson said, “The Association of Bermuda Insurers & Reinsurers [ABIR] today announced a new strategic... Read more of this article

Harrington & Castle Harbour Ratings Affirmed

Harrington & Castle Harbour Ratings Affirmed

AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Ratings of “a+” of Castle Harbour Insurance Limited and Harrington Sound Insurance Limited. These companies are captive insurance companies for Schlumberger Limited The outlook of these Credit Ratings is stable. Both captives are domiciled in Bermuda. A... Read more of this article

AM Best Assigns Credit Ratings To Orion Re

AM Best Assigns Credit Ratings To Orion Re

AM Best has assigned a Financial Strength Rating of B+ [Good] and a Long-Term Issuer Credit Rating of “bbb-” to Orion Reinsurance [Bermuda] Ltd. [Orion Re] [Hamilton, Bermuda]. The outlook assigned to these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Orion Re’s balance sheet strength, which AM Best categorizes... Read more of this article

Digital Report On Reinsurance Industry

Digital Report On Reinsurance Industry

The Bermuda Business Development Association [BDA] and Bermuda:Re+ILS published a special digital report on the reinsurance industry following a virtual roundtable discussion with Bermuda’s reinsurance industry leaders. A spokesperson said, “The Bermuda Business Development Association [BDA] and Bermuda:Re+ILS hosted a virtual roundtable discussion... Read more of this article

Argo Expect $54 Million In Catastrophe Losses

Argo Expect $54 Million In Catastrophe Losses

Argo Group said they expect catastrophe losses of approximately $54 million in the third quarter primarily related to Hurricanes Hanna, Laura and Sally, as well as the U.S. wildfires and Midwest derecho. The company said, “Argo Group International Holdings, Ltd., announced today that its results for the third quarter of 2020 will be adversely affected... Read more of this article

AXIS & Kennedys Launch New Insurance Product

AXIS & Kennedys Launch New Insurance Product

AXIS Insurance and Kennedys Law announced a collaboration for services in connection with the AXIS Marine Cyber Insurance product. This new product will provide insurance cover for the marine shipping market to protect against cyber exposures on board vessels and onshore in shipping company offices. “The marine shipping insurance market dates back... Read more of this article

AM Best Affirms Credit Ratings Of Harrington Re

AM Best Affirms Credit Ratings Of Harrington Re

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” of Harrington Re Ltd. AM Best also has affirmed the Long-Term ICR of “bbb-” of Harrington Reinsurance Holdings Limited. Both companies are domiciled in Bermuda. The outlook of these Credit Ratings [ratings] is stable. A statement... Read more of this article

AM Best Affirms Credit Ratings Of Brit Re

AM Best Affirms Credit Ratings Of Brit Re

AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” of Brit Reinsurance [Bermuda] Limited [Brit Re] [Bermuda]. The outlook of these Credit Ratings [ratings] is stable. A statement from the ratings agency said, “The ratings reflect Brit Re’s balance sheet strength, which AM Best categorizes... Read more of this article

ABIR To Host Virtual Seaside Chat On Oct 20

ABIR To Host Virtual Seaside Chat On Oct 20

The Association of Bermuda Insurers and Reinsurers [ABIR] will host a Virtual Seaside Chat on Tuesday, October 20. A spokesperson said, “The Association of Bermuda Insurers and Reinsurers [ABIR] will host a Virtual Seaside Chat with the International Association of Insurance Supervisors [IAIS] Secretary General Jonathan Dixon. ABIR extends an invitation... Read more of this article

RenRe Expect Q3 Catastrophe Loss Of $325M

RenRe Expect Q3 Catastrophe Loss Of $325M

RenaissanceRe Holdings Ltd. announced it currently estimates that losses from third quarter 2020 catastrophe events will have an estimated net negative impact of approximately $325 million on its third quarter 2020 results of operations. A spokesperson said, “The estimated net negative impact is primarily driven by losses from Hurricanes Laura and... Read more of this article

BII Fall Conference: Demanding Change In 2020

BII Fall Conference: Demanding Change In 2020

Lessons learned from enforced work from home due to Covid-19 regulations and how to manage people while working in a virtual environment will be the focus of one panel discussion at a major conference later this month. The Bermuda Insurance Institute [BII] will hold its 10th Annual Fall Conference via webinars on Tuesday, October 20, and Thursday, October... Read more of this article

Successful Eighth Year Of Convergence Event

Successful Eighth Year Of Convergence Event

On October 6-8, more than 400 attendees from 15 different countries tuned in for the first virtual ILS Bermuda Convergence event. A spokesperson said, “While the event was virtual, we continued to host great panel sessions, keynote speakers and online networking opportunities for our attendees. “Initial feedback from delegates and sponsors indicates... Read more of this article