Hashtag: #BermudaInsurance

AXIS Appoints James Hamilton As Global Head

AXIS Appoints James Hamilton As Global Head

AXIS Insurance, the insurance business segment of AXIS Capital Holdings Limited, announced that James “Jay” Hamilton has been appointed to the newly created role of Global Head of Accident & Health Insurance, effective immediately. In this role, Mr. Hamilton will be responsible for leading AXIS Insurance’s Accident & Health business in... Read more of this article

Appleby Acts For Aspen In $2.6B Sale Process

Appleby Acts For Aspen In $2.6B Sale Process

Appleby Bermuda said they “acted for Aspen Insurance Holdings Limited during a competitive sale process [valued at c. $2.6 billion] which was won by private equity firm Apollo Global Management LLC.” “The team was led by Partner Alan Bossin with assistance from Partner Matt Ebbs-Brewer and Associate Josephine Noddings. It is forecast... Read more of this article

Apollo To Acquire Aspen Insurance For $2.6B

Apollo To Acquire Aspen Insurance For $2.6B

Aspen Insurance Holdings announced today [Aug 28] that they have “entered into a definitive agreement under which Aspen will be acquired by the Apollo Funds.” Under the terms of the agreement, which has been approved by Aspen’s Board of Directors, the Apollo Funds will acquire all of the outstanding shares of Aspen for $42.75 per share... Read more of this article

AM Best Affirms Credit Ratings Of Harrington Re

AM Best Affirms Credit Ratings Of Harrington Re

A.M. Best has affirmed the Financial Strength Rating [FSR] of A- [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “a-” of Harrington Re Ltd. [Harrington]. A.M. Best also has affirmed the Long-Term ICR of “bbb-” of Harrington Reinsurance Holdings Limited. Both companies are domiciled in Bermuda. The outlook of these Credit... Read more of this article

Arch Insurance Promotes Mark Lange To EVP

Arch Insurance Promotes Mark Lange To EVP

Arch Insurance announced that Mark Lange has been promoted to Executive Vice President [EVP], Strategy and Distribution for Arch Insurance Group’s North American operations. Mr. Lange will report to Michael Price, EVP and Chief Underwriting Officer of Arch Insurance Group Inc. In this new role, Mr. Lange succeeds industry veteran Bill Casey, who has... Read more of this article

S&P Global Ratings On Global Reinsurance M&A

S&P Global Ratings On Global Reinsurance M&A

“Global reinsurers are having to review their long-term relevance in a tough market that features heightened competition, limited growth opportunities, and continued pressure on pricing,” S&P Global Ratings said. The company said, “S&P Global Ratings does not anticipate any let-up in the key factors underlying the sector’s... Read more of this article

AM Best Reaffirms IGI Financial Strength Rating

AM Best Reaffirms IGI Financial Strength Rating

Rating agency A.M. Best has reaffirmed the financial strength rating of A- [Excellent] with a positive outlook for International General Insurance Co. Ltd [IGI Bermuda] and International General Insurance Company [UK] Limited [IGI UK], the global specialist commercial insurer and reinsurer. A.M. Best said the positive outlook reflects “IGI’s record... Read more of this article

Formation Of ABIR Broker Advisory Cabinet

Formation Of ABIR Broker Advisory Cabinet

The Association of Bermuda Insurers & Reinsurers [ABIR] announced a new board member and formation of the ABIR Broker Advisory Cabinet. Seasoned insurance veteran John Berger will join the ABIR Board of Directors on behalf of Ascot Reinsurance Company Limited. Headquartered in Bermuda, Ascot Group has offices in London, Houston, New York, Chicago,... Read more of this article

Speakers Lined Up For Re-Insurance Conference

Speakers Lined Up For Re-Insurance Conference

Fintech, diversity and mergers and acquisitions in the re-insurance industry are just some of the topics on the agenda for a major annual conference taking place later this year. The XL Catlin Bermuda Insurance Marketplace Conference will be held at O’Hara House, on Bermudiana Road, on October 11, with the keynote speech being given by Patrick Tannock,... Read more of this article

Column: Island Leads Again With Insurtech

Column: Island Leads Again With Insurtech

[Written by Stephanie P. Sanderson, Partner] Bermuda’s insurance history is an extremely rich one. The captive insurance sector, which was once thought radical, was developed in Bermuda in the 1960s and 1970s and established Bermuda’s bourgeoning international insurance industry. The 1980s saw Bermuda develop excess liability insurance and the 1990s... Read more of this article

Aspen Appoints Issavi To Lead Its Reinsurance

Aspen Appoints Issavi To Lead Its Reinsurance

Aspen Insurance Holdings Limited announced that Emil Issavi, President and Chief Underwriting Officer of Aspen Re, has been appointed to lead its reinsurance business with immediate effect. Mr. Issavi succeeds Thomas Lillelund who is leaving Aspen to take a senior leadership position with a global P&C insurance company. Mr. Lillelund is expected... Read more of this article

White Mountains Reports Second Quarter Results

White Mountains Reports Second Quarter Results

White Mountains Insurance Group, Ltd. reported book value per share of $924 and adjusted book value per share of $912 as of June 30, 2018. Book value per share and adjusted book value per share both increased 1% in the second quarter of 2018. Book value per share decreased 1% and adjusted book value per share was near break-even in the first six... Read more of this article

Starr Acquires Aspen’s Aviation Operation

Starr Acquires Aspen’s Aviation Operation

Starr Insurance Companies has entered into an agreement to acquire the renewal rights of Aspen Insurance’s aviation business. “The value of the aviation book is estimated to be in excess of $50 million in gross written premiums,” the company said. “In conjunction with this agreement, Starr will also manage all underwriting and claims... Read more of this article