Hashtag: #BermudaInsurance

Randall & Quilter Acquires Barbados Insurer

Randall & Quilter Acquires Barbados Insurer

Randall & Quilter Investment Holdings Ltd. [R&Q] announced that its wholly-owned subsidiary R&Q Re [Bermuda] Limited has completed the acquisition of the Barbados insurer, Distinguished Re Ltd, formerly known as the Saranac Insurance Company, Ltd., a wholly owned subsidiary of Distinguished LLC. A spokesperson said, “Distinguished... Read more of this article

AXA XL Reinsurance Leadership Team Changes

AXA XL Reinsurance Leadership Team Changes

AXA XL has announced additional changes within its Reinsurance Leadership Team [RLT], effective January 1. A spokesperson said, “The changes are part of AXA XL Reinsurance’s simplified Reinsurance organizational structure which was announced in September. The structure is aligned around AXA XL Reinsurance’s key markets and intended to enhance... Read more of this article

AM Best Affirms Credit Ratings Of Argus Group

AM Best Affirms Credit Ratings Of Argus Group

AM Best has affirmed the Financial Strength Rating [FSR] of A- [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “a-” of Argus Insurance Company Limited and Bermuda Life Insurance Company Limited. Both companies are subsidiaries of Argus Group Holdings Limited. Concurrently, AM Best has affirmed the Long-Term ICR of Argus Group... Read more of this article

BILTIR Announces 11% Membership Growth

BILTIR Announces 11% Membership Growth

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that membership grew by 11% in 2019. A spokesperson said, “The number of companies joining BILTIR, which represents the island’s long-term insurers and reinsurers who provide life and annuity products such as pensions, grew from 55 to 61 this year. “Five reinsurance... Read more of this article

Minister On NAIC Reciprocal Jurisdiction Status

Minister On NAIC Reciprocal Jurisdiction Status

NAIC announced that Bermuda has been granted Reciprocal Jurisdiction status and has also approved Bermuda as a Qualified Jurisdiction, Minister of Finance Curtis Dickinson said in the House of Assembly today [Dec 13]. The Minister’s full statement follows below: Mr. Speaker, I am pleased to be able to provide the House of Assembly with an update... Read more of this article

Insurance Market Celebrates Reciprocal Status

Insurance Market Celebrates Reciprocal Status

Bermuda’s global insurance market praised the efforts of the Bermuda Monetary Authority [BMA] and the strength of its regulatory regime in being granted Reciprocal Status, a new designation introduced this year, by the National Association of Insurance Commissioners [NAIC], the U.S. insurance regulatory body. Bermuda’s elevated status, effective... Read more of this article

NAIC Grants Bermuda Reciprocal Jurisdiction

NAIC Grants Bermuda Reciprocal Jurisdiction

The National Association of Insurance Commissioners [NAIC] has announced that Bermuda has been granted Reciprocal Jurisdiction status effective January 1, 2020, while also approving the island as a Qualified Jurisdiction. A spokesperson said, “The National Association of Insurance Commissioners announced today that Bermuda has been granted Reciprocal... Read more of this article

AM Best Affirms Ratings Of StarStone Insurance

AM Best Affirms Ratings Of StarStone Insurance

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” of StarStone Insurance Bermuda Limited [StarStone] [Bermuda] and its subsidiaries, StarStone Insurance SE [Liechtenstein], StarStone Specialty Insurance Company [StarStone Specialty] and StarStone National Insurance Company [StarStone... Read more of this article

EY To Host Business & Accounting Update Event

EY To Host Business & Accounting Update Event

EY will be hosting the EY [Re]Insurance Business and Accounting Update in Bermuda on 10 December 2019. The event will gather leaders in the [re]insurance industry for meaningful discussions on a range of topics including accounting, tax, and regulatory matters, as well the business imperatives facing the Bermuda [re]insurance industry. Among noteworthy... Read more of this article

Hamilton Re Invites Scholarship Applications

Hamilton Re Invites Scholarship Applications

Hamilton Insurance Group, – the Bermuda-headquartered holding company that underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries — is now inviting applications for a scholarship designed to expand the skill set of young professionals considering a career in insurance and reinsurance. Hamilton... Read more of this article

31% Not Current With Social Insurance Payments

31% Not Current With Social Insurance Payments

[Written by Don Burgess] Nearly one in three employers and self-employed persons are more than 90 days behind on their social insurance payments. This comes from a Government spokesperson on the heels of accusations by staff at The Athletic Club that social insurance had allegedly been deducted from their pay cheques, but it had not been credited to... Read more of this article

Industry Leaders Attend PwC Insurance Summit

Industry Leaders Attend PwC Insurance Summit

With assets of $500 billion, life reinsurance is now the largest insurance sector by assets in Bermuda and could see even greater growth in the coming year, according to industry leaders speaking at the PwC Insurance Summit on Thursday, November 7. Moderating a session on life reinsurance, Colm Homan, Partner, Insurance, PwC Bermuda, noted that in the... Read more of this article

Over 250 Delegates Attend Insurance Summit

Over 250 Delegates Attend Insurance Summit

Bermuda’s role on the world stage was celebrated at the PwC Insurance Summit, presented by the Financial Times on Thursday [Nov 7] at the Hamilton Princess. Now in its 14th year, the island’s premier insurance forum was presented by the Financial Times and two of its leading journalists along with PwC insurance leaders. Over 250 delegates – many... Read more of this article