Hashtag: #BermudaInsurance

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

Raising Profile Of Life & Annuity Insurance Sector

Raising Profile Of Life & Annuity Insurance Sector

The Bermuda Business Development Agency [BDA] is partnering with the island’s fast-growing life and annuity re/insurance sector to promote a strong presence at the industry’s largest US conference this spring. For the first time, the BDA will team with Bermuda International Long Term Insurers & Reinsurers [BILTIR] to lead an industry delegation... Read more of this article

Arch Updates Catastrophe Loss Estimates

Arch Updates Catastrophe Loss Estimates

During the fourth quarter of 2018, there were a number of catastrophes around the globe, including Hurricane Michael, wildfires in California and a series of smaller events. Arch Capital Group Ltd. has established a range of pre-tax losses of $110 million to $130 million for these events, net of reinsurance recoveries and reinstatement premiums. “For... Read more of this article

Premia Acquires Public Service Insurance

Premia Acquires Public Service Insurance

Premia Holdings has acquired Public Service Insurance Company [PSIC] and its wholly-owned subsidiary Western Select Insurance Company [WSIC] from the Director of the Illinois Department of Insurance, acting in her capacity as statutory and court affirmed Rehabilitator for Public Service Insurance Company [Rehabilitator]. “In this groundbreaking... Read more of this article

Liberty Announces New Limestone Transaction

Liberty Announces New Limestone Transaction

Liberty Mutual completed a new transaction utilizing the Limestone Re capital markets platform that provides approximately $150 million of collateralized reinsurance capacity for its U.S. property catastrophe program, as well as its U.S. homeowners and global property reinsurance businesses. The transaction is comprised of $58 million of Bermuda Stock... Read more of this article

Argo Appoints Wharton To Head Of Insurance

Argo Appoints Wharton To Head Of Insurance

Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance, announced the appointment of Bill Wharton to Head of Argo Insurance Bermuda, effective immediately. Mr Wharton will also continue as Head of Professional Lines in Bermuda. This change comes as former Head of Argo Insurance Bermuda, Nigel Mortimer,... Read more of this article

Albert Benchimol Elected New ABIR Chair

Albert Benchimol Elected New ABIR Chair

The Association of Bermuda Insurers & Reinsurers [ABIR] today [Jan 7] announced its biennial election of new officers for 2019–20. New ABIR officers elected at the organization’s recent board meeting are: Chair Albert Benchimol, President & CEO of AXIS Capital; Deputy Chair Marc Grandisson, President & CEO Arch Capital Group; and Second... Read more of this article

White Mountains Minority Investment In Noblr

White Mountains Minority Investment In Noblr

Bermuda-domiciled White Mountains Insurance Group, Ltd. [WTM] announced today [Jan 7] that it has acquired a minority equity stake in Noblr, Inc .Noblr is a new property and casualty insurance provider, with its first product offering focused on personal auto insurance. It provides consumers with real-time insurance rates and real-time feedback on driving... Read more of this article

Butt Inducted Into Insurance Hall Of Fame

Butt Inducted Into Insurance Hall Of Fame

AXIS Capital Holdings Limited announced that the International Insurance Society [IIS] has inducted Michael Butt OBE, Chairman of AXIS Capital, into the Insurance Hall of Fame and named Mr. Butt the 2019 Insurance Hall of Fame Laureate. Mr. Butt will be honored at the IIS Global Insurance Forum’s Gala Awards taking place on June 20 in Singapore. “We... Read more of this article

BFIS Hold Student Christmas Networking Event

BFIS Hold Student Christmas Networking Event

The Mentor Network Committee of the Bermuda Foundation For Insurance Studies [BFIS] switched up its Christmas networking lunch for college students by holding a coached interactive event. Held at O’Hara House, courtesy of AXA XL, on December 28th it was well attended by over 50 students and insurance professionals.Led by Pamela Barit Nolan of Transform... Read more of this article