Hashtag: #BermudaInsurance
AM Best Confirms Strong Ratings For PartnerRe
AM Best confirmed strong ratings for PartnerRe Ltd. and its subsidiaries, noting stability despite leadership changes. The ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” [Superior] of the operating subsidiaries of PartnerRe Ltd.... Read more of this article
AM Best Revises Canopius Outlooks To Stable
AM Best revised the outlooks to stable from negative for Canopius US Insurance, Inc. The ratings agency said, “AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” [Excellent] of Canopius US Insurance, Inc. [Canopius US] [Wilmington,... Read more of this article
Boost Adds Over $130M Of Reinsurance Capacity
Boost Insurance, an insurance infrastructure platform, announced that it had secured over $130 million in new reinsurance capacity to sit behind its MGA, insurtech, and embedded insurance programs. A spokesperson said, “In addition to renewing its treaties with all existing reinsurers, including strategic partners RenaissanceRe and Canopius, its... Read more of this article
MS Reinsurance Donated $200K To Charity
MS Reinsurance revealed its contribution of US$200,000 to Bermudian charities in 2023, complemented by team members’ volunteered hours. A spokesperson said, “MS Reinsurance, the global reinsurer, announces that it donated US$200,000 to local Bermuda charities throughout 2023, as well as dedicated hours of volunteering by team members. Most... Read more of this article
Warwick Re Closes $500M Agreement
Warwick Re Ltd, a Bermuda-based reinsurance company, announced the “closing of a quota share reinsurance agreement to support Just Group plc, a leading UK BPA insurer, for a circa. $500 million transaction completed in December 2023.” A spokesperson said, “This is an inaugural transaction for Warwick Re, a provider of innovative reinsurance... Read more of this article
CG Offering ‘Insure Your Love’ Info Sessions
CG Insurance is offering life insurance information sessions on February 22 and February 29. A spokesperson said, “During this season of reflection and appreciation for your personal relationships, CG Insurance underscores the importance of safeguarding your most valuable assets – your loved ones. While love is immeasurable, it can be protected... Read more of this article
AM Best Affirms Credit Ratings Of PMG
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a+” [Excellent] of PMG Assurance Ltd. [PMG] [Bermuda], with a stable outlook. The ratings agency said, “The ratings reflect PMG’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance,... Read more of this article
Monument Re’s MAL Completes Transfer
Monument Re announced today that its Luxembourg subsidiary Monument Assurance Luxembourg S.A. [MAL] completed the transfer of the closed book portfolio of long term life insurance business from Integrale Luxembourg S.A. The portfolio serves mainly the Luxembourgish, Dutch and French markets, and is strategically aligned to MAL’s existing business... Read more of this article
Athene Donates Over $325,000 In 2023
Athene Life Re Ltd. [ALRe], the reinsurance subsidiary of Athene Holding Ltd., contributed over $325,000 to the Bermuda community in 2023 through its charitable donations, local sponsorship initiatives, and scholarship program. A spokesperson said, “his has been part of Athene’s ongoing commitment to give back to the community where its... Read more of this article
Fitch Ratings Statement On Bermuda Re/Insurers
“Bermuda [re]insurers’ underwriting profitability is likely peaking at current levels, as price increases moderate and loss-cost inflation persists,” Fitch Ratings says. The ratings agency said, “However, returns will continue to be favorable as market conditions remain attractive, with the negative effect of natural disasters on... Read more of this article
Lombard Rebrands To Axcelus Financial
Lombard International US & Bermuda, a leading provider of private placement life insurance and annuities, announced its rebranding to Axcelus Financial. A spokesperson said, “The new name and full rebrand follows the November 2023 acquisition of the company by an affiliate of BroadRiver Asset Management L.P., a specialized asset management... Read more of this article
Mosaic Insurance Appoints Taylor Denier
Mosaic Insurance has appointed Taylor Denier to lead growth of its US environmental liability business as the division expands globally to meet rising demand. A spokesperson said, “Denier joins the specialty insurer’s New York office as SVP, Head of US, Environmental Liability, reporting to Global Head Jim Finnamore and is responsible for leading... Read more of this article
Catalina Re Staff Donate To TLC Centre
Catalina Re staff decided to forego Christmas gift exchange and instead donated funds which were company matched, allowing Catalina’s ESG Committee to purchase much needed items from the Transformational Living Centre’s Wish List. “The Transformational Living Centre supports women and their families, and our staff and ESG Committee felt, particularly... Read more of this article
Catalina Re Donates To Friends Of Hospice
Catalina Re has made a $10,000 donation to the Friends of Hospice [FoH]. Catalina Re’s ESG Committee Chair and Group Treasury Manager, Tina Rego, said: “Given the profound affect Friends of Hospice has had in our community over the past 29 years, Catalina is highly supportive of contributing to their cause.” “The sole mandate of... Read more of this article
Ariel Re Donated $195,000 To Charity In 2023
Ariel Re, a global reinsurance business with offices in Bermuda, London, and Hong Kong, has announced it donated $195,000 to charities in 2023 – almost double the sum donated in 2022. A spokesperson said, “The company assisted twenty-four charities through its Bermuda and London offices, including amounts given via tag days, sponsorships, and... Read more of this article
AM Best Assigns Berking Re With Stable Outlook
AM Best has assigned the Financial Strength Rating of B [Fair] and the Long-Term Issuer Credit Rating of “bb+ [Fair] to Berking Re Limited [Bermuda]. The outlook assigned to these Credit Ratings is stable. The ratings agency said, “The ratings reflect Berking Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate... Read more of this article
