Hashtag: #BermudaInsurance

ABIR & Lloyd’s To Host “Lloyd’s Market Update’

ABIR & Lloyd’s To Host “Lloyd’s Market Update’

The Association of Bermuda Insurers & Reinsurers [ABIR] and Lloyd’s of London will be hosting a “Lloyd’s Market Briefing” today [March 18] in Bermuda. The milestone event will feature insights from Lloyd’s Chair Bruce Carnegie-Brown. He will be joined by Jon Hancock, Director of Performance Management of Lloyd’s. Comments will also be... Read more of this article

Sompo Introduces Professional Lines Capabilities

Sompo Introduces Professional Lines Capabilities

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company’s U.S. platform has introduced a Management Assurance Policy [MAP], which expanded its primary professional lines insurance offering for private companies. Through MAP, Sompo International offers... Read more of this article

PartnerRe Longevity Transaction With Manulife

PartnerRe Longevity Transaction With Manulife

PartnerRe has entered into a transaction with The Manufacturers Life Insurance Company [Manulife] to reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, PartnerRe will reinsure the longevity risk in respect of approximately 25,000 annuitants. Alan Ryder, CEO of PartnerRe North America Life commented: “PartnerRe... Read more of this article

Groups Committed To Working With Government

Groups Committed To Working With Government

Bermuda’s industry groups have pledged support for the “market’s long-respected record on compliance and tax-transparency and are backing the Bermuda government’s efforts to expedite the island’s removal from a European Union list of ‘non-cooperative’ jurisdictions.” The EU has been requesting that nations and jurisdictions... Read more of this article

ChainThat To Launch New Capital Exchange

ChainThat To Launch New Capital Exchange

“A revolutionary blockchain risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat,” the company announced. The exchange will allow broker, reinsurance and insurance companies access to the capital markets using blockchain, the company stated. A specialist provider... Read more of this article

ABIR Members Offering Student Internships

ABIR Members Offering Student Internships

The Association of Bermuda Insurers & Reinsurers [ABIR] and its members are gearing up for a busy summer of opportunities for Bermuda’s students, offering valuable internships at some of the leading international re/insurance companies. “As we cap off Insurance Careers Month, there is no better time to highlight the career introductions ABIR... Read more of this article

Apollo Funds Completes Aspen Acquisition

Apollo Funds Completes Aspen Acquisition

[Updated] The Bermuda Stock Exchange [BSX] announces it has, prior to the market opening today, Friday, 15 February, 2019, has suspended trading of Aspen Insurance Holdings Ltd.’s common shares in “anticipation of the merger of Highlands Merger Sub, Ltd. and Aspen Insurance Holdings Ltd.” Update 9.58am: The BSX said that Aspen Insurance... Read more of this article

Registration Opens For Captive Conference

Registration Opens For Captive Conference

Self-insurance strategies to lift your company to a whole new level are the focus of the 15th Bermuda Captive Conference taking place June 10–12. This year’s theme—“Elevate”—encourages risk managers to consider the many ways captives can contain costs and manage coverage, whether for a Fortune 500 corporation or mid-sized business. “Our... Read more of this article

BDA: Growth In Long Term Insurance Sector

BDA: Growth In Long Term Insurance Sector

“Bermuda’s long-term insurance and reinsurance industry is marking a banner year of increased company registrations, driving vital job growth in the jurisdiction,” the Bermuda Business Development Agency [BDA] said today. “The number of Bermuda-based companies in the sector, which provides global coverage of life, annuity and pension... Read more of this article

White Mountains Reports Fourth Quarter Results

White Mountains Reports Fourth Quarter Results

White Mountains Insurance Group, Ltd. [WTM] reported book value per share of $896 and adjusted book value per share of $888 as of December 31, 2018. For the fourth quarter and year ended December 31, 2018, book value per share decreased 5% and 4% and adjusted book value per share decreased 4% and 3%, including dividends. Including the estimated gain... Read more of this article

AXA XL Launches Suite Of Crisis Management

AXA XL Launches Suite Of Crisis Management

AXA XL Insurance announced that it has launched a suite of crisis management solutions in France. These solutions, underwritten locally, are designed to help French companies operating abroad prevent, prepare for and respond to crisis situations, and help protect their people, assets and finances. The suite includes war, terrorism and political violence... Read more of this article

AlphaCat, Terra Re Insurance-Linked Securities

AlphaCat, Terra Re Insurance-Linked Securities

AlphaCat Managers and Terra Brasis Resseguros S.A. announced the successful completion of a $5 million private catastrophe bond transaction. The 2019 ‘Alpha Terra Validus III’ bond is the third issuance of this pioneering arrangement covering Latin American reinsurance catastrophe risks. The 2019 notes provide retrocessional reinsurance protection... Read more of this article

Fitch: ‘Bermuda Market Remains Resilient’

Fitch: ‘Bermuda Market Remains Resilient’

Bermuda-based [re]insurers continue to be tested by challenging market conditions, including heightened catastrophic losses and diminishing competitive advantage resulting from U.S. tax reform, according to Fitch Ratings. A statement from the ratings agency said, “However, the Bermuda market remains resilient given its strong global position, demonstrated... Read more of this article