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BILTIR Award $30K Scholarship To Taiyana Allen

BILTIR Award $30K Scholarship To Taiyana Allen

BILTIR has awarded a $30,000 scholarship to Taiyana Allen. A spokesperson said, “Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced it has awarded a $30,000 scholarship to former CedarBridge Academy student Taiyana Allen. “Taiyana, 21, of Southampton Parish, will use the money to study at Georgia State University... Read more of this article

Social Insurance Contribution Suspension

Social Insurance Contribution Suspension

“The employee option of choosing a social insurance contribution suspension will be made effective July 1, 2020, and terminates on June 30, 2021,” the Government said today. A Government spokesperson said, “Per the recent Contributory Pensions Temporary Amendment Act 2020, the Department of Social Insurance wishes to advise the public... Read more of this article

Bermuda Captive Conference Going Virtual

Bermuda Captive Conference Going Virtual

The 2020 Bermuda Captive Conference will be held virtually due to the ongoing Covid-19 pandemic, with the event set to take place from September 9 to September 11. A spokesperson said, “It has been announced that the 2020 Bermuda Captive Conference will be hosted on a virtual platform for the first time in response to the continued uncertainty... Read more of this article

Convergence 2020 Set To Be Held Virtually

Convergence 2020 Set To Be Held Virtually

ILS Bermuda’s Convergence 2020 will be held virtually due to the ongoing Covid-19 pandemic, with the event scheduled for October 6 to October 8. A spokesperson said, “Due to the unprecedented and unpredictable COVID-19 pandemic crisis, ILS Bermuda’s annual Convergence 2020 event scheduled for October 6 – 8, 2020 will be a virtual event. “ILS... Read more of this article

AM Best Assigns Credit Ratings To Golden Tree

AM Best Assigns Credit Ratings To Golden Tree

AM Best has assigned a Financial Strength Rating of B+ [Good] and a Long-Term Issuer Credit Rating of “bbb-” to Golden Tree Reinsurance Limited [Golden Tree] [Bermuda]. The outlook assigned to these Credit Ratings [ratings] is stable. The ratings agency said, “Golden Tree is a subsidiary of Iris Financial Services Limited [Iris Financial] and... Read more of this article

Hiscox & Thimble’s Short-Term Liability Insurance

Hiscox & Thimble’s Short-Term Liability Insurance

Hiscox has partnered with Thimble to offer short-term liability insurance, available by the hour, day, or month. A spokesperson said, “Hiscox, a leading small business insurer, has partnered with Thimble, the insurance partner that makes insurance simple to help small businesses succeed on their own terms by offering short-term liability insurance,... Read more of this article

BILTIR Accepted As Member Of GFIA

BILTIR Accepted As Member Of GFIA

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has been accepted as a member of the Global Federation of Insurance Associations [GFIA]. GFIA, whose 41 member associations represent 89% of global insurance premiums worldwide, unanimously accepted BILTIR as a member at its virtual General Assembly on June 3. GFIA is a non-profit association... Read more of this article

AM Best Places StarStone Ratings Under Review

AM Best Places StarStone Ratings Under Review

AM Best has placed under review with negative implications the Financial Strength Ratings of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” of StarStone Insurance Bermuda Limited and its rated subsidiaries: StarStone Insurance SE [SISE] [Liechtenstein], StarStone Specialty Insurance Company [SSIC] [Wilmington, DE] and StarStone National... Read more of this article

MS Amlin To Work With FCA On BI Claims

MS Amlin To Work With FCA On BI Claims

MS Amlin Underwriting Limited has agreed to be one of the eight participating insurers in the Financial Conduct Authority test case court action, aimed at seeking legal clarity on business interruption insurance. The company said, “We can confirm that MS Amlin Underwriting Limited [MS AUL], the Lloyd’s [re]insurer, has agreed to be one of the... Read more of this article

Fidelis Insurance Bermuda Donates $350,000

Fidelis Insurance Bermuda Donates $350,000

Fidelis Insurance Bermuda Limited [FIBL] has donated US$350,000 to various charities and organisations supporting community needs during the Covid-19 pandemic. A spokesperson said, “In response to the Covid-19 crisis, Fidelis Insurance Bermuda Limited [FIBL] has donated US$350,000 to various charities and organisations supporting community needs. “This... Read more of this article

AM Best Affirms Credit Ratings Of Nissan Global

AM Best Affirms Credit Ratings Of Nissan Global

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

Exor To Retain Ownership Of PartnerRe

Exor To Retain Ownership Of PartnerRe

Exor will retain ownership of PartnerRe following Covéa failing to “honour its commitment” to finalise the acquisition agreement. The company said, “Exor communicates that its Board of Directors, meeting under the Chairmanship of John Elkann, has acknowledged Covéa’s notice that Covéa will not honour its commitment to acquire... Read more of this article

BILTIR Board Cancels 2020 Conference

BILTIR Board Cancels 2020 Conference

The Board of the Bermuda International Long Term Insurers & Reinsurers [BILTIR] has canceled the 2020 Bermuda International Life & Annity Conference due to the ongoing Covid-19 pandemic. A spokesperson said, “The Board of the Bermuda International Long Term Insurers and Reinsurers has made the very difficult decision to cancel its 2020... Read more of this article