Tag: #BermudaInsurance

“Understanding Your Insurance Coverage”

“Understanding Your Insurance Coverage”

In partnership with the Health Insurance Department and MoonGate Insurance, Age Concern Bermuda is hosting “Understanding Your Insurance Coverage”, an information session for Age Concern members on Tuesday, September 1, from 1:00 pm – 3:00 pm at Charities House, 25 Point Finger Road, Paget. “The session will include information on... Read more of this article

ABIR On Louisiana Insurance Commissioner

ABIR On Louisiana Insurance Commissioner

In commemoration of the 10-year anniversary of Hurricane Katrina, the Louisiana Department of Insurance and Insurance Commissioner James Donelon issued a report, “State of Insurance, 10 Years Post-Katrina,” showcasing improvements made to the Louisiana home insurance market over the last decade. The report highlights the creation of a statewide... Read more of this article

Bermuda Re: Island’s Female Senior Executives

Bermuda Re: Island’s Female Senior Executives

ABIR’s Senior Vice President, Deputy Director and Corporate Secretary Leila Medeiros was named one of 38 influential women in Bermuda by trade magazine Bermuda:Re+ILS; along with 15 other female executives at ABIR member companies. The magazine’s special edition highlights Bermuda female executives, mostly in the commercial insurance and reinsurance... Read more of this article

Explosion Insurance Losses Could Be $1.5B

Explosion Insurance Losses Could Be $1.5B

The insured losses from a series of explosions at a chemical warehouse in Tianjin on 12 August are “likely to be material” for Chinese insurance companies, potentially exceeding $1 – 1.5 billion, said Fitch Ratings, as the “high insurance penetration rate in this area could make the blasts one of the most costly catastrophe claims... Read more of this article

Fitch: Potential For Further Market Consolidation

Fitch: Potential For Further Market Consolidation

Unutilized capital and the threat of alternative reinsurance providers, combined with slowing premium growth and sagging investment yields, increase the potential for further market consolidation of Bermuda based [re]insurers, Fitch Ratings said. Fitch has outlined its views in a recent report examining a universe of 20 Bermuda-domiciled underwriters’... Read more of this article

OneBeacon Insurance Exits Crop Business

OneBeacon Insurance Exits Crop Business

OneBeacon Insurance Group has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services, Inc. [AmTrust]. The company’s existing crop insurance business has been transferred to AmTrust, including policyholder servicing. OneBeacon President and CEO Mike... Read more of this article

WTM Adjusted Book Value Per Share Of $671

WTM Adjusted Book Value Per Share Of $671

Bermuda-domiciled White Mountains Insurance Group, Ltd. [WTM] reported an adjusted book value per share of $671 at June 30, 2015, up 1.1% for both the second quarter and first six months of 2015, including dividends. Ray Barrette, Chairman and CEO, commented, “It was a solid quarter.  Sirius Group reported a 78% combined ratio continuing... Read more of this article

Student Presentations Following BFIS Internships

Student Presentations Following BFIS Internships

On Friday, July 24, this summer’s BFIS Interns gave ‘standing room only’ presentations to over 60 insurance professionals, parents, former interns and BFIS scholars in the training room at KPMG, on their experiences in the insurance markets of Atlanta, Bermuda, Chicago and London. Although the BFIS intern programmes are short, [Bermuda – 3 weeks,... Read more of this article

PwC: Top Risks For Bermuda Reinsurance Sector

PwC: Top Risks For Bermuda Reinsurance Sector

A new survey charting the top risks in the Bermuda and global insurance sector shows that cyber risk and interest rates are now among the top risks for insurers and reinsurers. Their entry, new into the rankings of this fifth successive survey, are indicative of how high a concern they have become for the industry. The CSFI’s latest ‘Insurance Banana... Read more of this article

White Mountains Group To Sell Sirius To CMI

White Mountains Group To Sell Sirius To CMI

White Mountains Insurance Group, Ltd. [WTM] has signed a definitive agreement to sell Sirius International Insurance Group, Ltd.[Sirius] to CM International Holding PTE Ltd., the Singapore-based investment arm of China Minsheng Investment Corp., Ltd. [CMI]. The purchase price will be paid in cash in an amount equal to 127.3% of Sirius’s closing... Read more of this article

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