Hashtag: #BermudaInsurance

Everest Obtains Regulatory Approval For Ireland

Everest Obtains Regulatory Approval For Ireland

Bermuda-based Everest Re Group, Ltd. announced that its Dublin-based subsidiary has been granted authorization in principle by the Central Bank of Ireland to operate as an authorized non-life insurer in Ireland. This entity, to be named Everest Insurance Ireland, dac [EIID], continues the expansion of the Everest Insurance® franchise, and enables the... Read more of this article

RMS Estimates Insured Losses From Maria

RMS Estimates Insured Losses From Maria

RMS, a global risk modeling and analytics firm, has estimated that the insured loss from Hurricane Maria will be between USD $15 and $30 billion. This estimate represents the insured losses associated with wind, storm surge and inland flood damage across the Caribbean, with Puerto Rico and Dominica suffering the most widespread destruction. The estimate... Read more of this article

ABIR Contribute Nearly $900M To Economy

ABIR Contribute Nearly $900M To Economy

Members of the Association of Bermuda Insurers and Reinsurers [ABIR] made a direct economic contribution to Bermuda of nearly $900 million in 2016, according to the 12th annual member survey results published today by ABIR. Twenty-three ABIR members reported data for calendar year 2016. ABIR’s aggregate direct economic impact to the Bermuda economy... Read more of this article

“Insurance Of The Future” Conference

“Insurance Of The Future” Conference

Local and international industry experts will be on hand to offer market insights and practical information at the upcoming Bermuda Insurance Market Conference, hosted by the Bermuda Insurance Institute [BII]. The 2017 Conference, entitled ‘Insurance of the Future’, will take place on Friday, October 13 at XL Catlin at O’Hara House, with speakers... Read more of this article

Fitch Ratings: Reinsurer Downgrade Risks Grow

Fitch Ratings: Reinsurer Downgrade Risks Grow

Following the devastation caused by Hurricane Maria, 2017 catastrophe losses for the global insurance and reinsurance sectors will exceed $100 billion and could reach close to $190 billion on a pretax basis, Fitch Ratings says. According to Fitch, losses on this scale, which at the upper end would be the highest on record in a single year, could “weaken... Read more of this article

Registration For Dive In Festival Still Open

Registration For Dive In Festival Still Open

Registration remains open for next week’s Dive In Festival which aims to highlight the business case for diverse and inclusive workplaces and provide practical ideas and inspiration for how to bring about positive change. However, organizers of the festival events are urging those interested in attending to sign up while there is still space available. A... Read more of this article

Over 250 People Attend BILTIR Conference

Over 250 People Attend BILTIR Conference

Over 250 life and annuity professionals from all over the world descended on Bermuda for the fourth-annual Bermuda International Life and Annuity Conference, hosted by the Bermuda International Long Term Insurers and Reinsurers [BILTIR]. The event was held at The Fairmont Southampton and began with a reception at the Royal Bermuda Yacht Club, which... Read more of this article

White Mountains Tender Preliminary Results

White Mountains Tender Preliminary Results

White Mountains Insurance Group announced the preliminary results of its “modified Dutch auction” tender offer to purchase up to 500,000 shares. The tender offer expired at 12:00 midnight, New York City time, at the end of the day on September 14, 2017. Based on a preliminary count by the depositary for the tender offer, 719,971 shares were... Read more of this article

Bermuda Form & Excess Layer Seminar

Bermuda Form & Excess Layer Seminar

XL Catlin and international law firm Norton Rose Fulbright will be hosting a seminar to discuss significant aspects of the Bermuda Form and Excess Layer insurance coverage. Gavin Kealey Q.C. and Mina Matin, Senior Council at Norton Rose Fulbright, will lead the presentation at XL Catlin’s offices on 20 September, 2017. The seminar will include a discussion... Read more of this article

Captive Conference Highlights Bermuda’s Role

Captive Conference Highlights Bermuda’s Role

The Bermuda insurance market’s leading role in global risk innovation, including helping communities rebuild after disasters, was highlighted at this week’s successful 13th annual Bermuda Captive Conference. The conference attracted more than 750 registrants, totalling almost 800 room nights at Fairmont Southampton, the venue for the three-day event.... Read more of this article

Global InsurTech Investments Increased In Q2

Global InsurTech Investments Increased In Q2

Global investment in InsurTech in the second quarter of 2017 surpassed that in the previous three quarters combined, according to a new report from PwC. “Investment in InsurTech by global insurers, reinsurers and Venture Capital firms surged by 247% to $985million, compared to Q2 2016 [$398million]. The first three months of 2017 saw $283million... Read more of this article

Fitch Do Not Expect To Downgrade Reinsurers

Fitch Do Not Expect To Downgrade Reinsurers

Based on Fitch Ratings’ initial assessments, most US insurance companies and global reinsurers in their rated universe are “not expected to be downgraded as a result of the combined effects of Hurricanes Irma and Harvey.” “However, Fitch does not yet dismiss the risk that select [re]insurers with disproportionate combined exposures... Read more of this article

McGavick To Speak At Bermuda Convergence

McGavick To Speak At Bermuda Convergence

ILS [Bermuda] Ltd., organisers of Bermuda Convergence 2017 announced that Mike McGavick, CEO of the XL Group Ltd, will be one of the event’s keynote speakers. A leader in the industry for more than two decades, Mr. McGavick serves as CEO of XL Group Ltd, which provides insurance and reinsurance risk solutions globally under the XL Catlin brand. From... Read more of this article