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Island Could Benefit From Cat Bond Boom

Island Could Benefit From Cat Bond Boom

Interest in the re/insurance industry’s use of insurance-linked securities to spread its risk of exposure to global catastrophes continues to grow and Bermuda could benefit from this resurgence, business magazine “Financial News” reports today [Nov. 6]. Through insurance-linked securities, insurance risk is transferred in a capital markets... Read more of this article

Lancashire’s Net Operating Profits Fall

Lancashire’s Net Operating Profits Fall

Bermuda insurer Lancashire today [Nov.4] posted net operating profits of $87.7 million for the three months to the end of September — down from $97.4 million last time. Gross premiums written rose to $142.9m from $135.0m but net premiums written fell slightly to $133.6m from $134.0m. Richard Brindle, Group Chief Executive Officer, commented: ”Lancashire... Read more of this article

Lancashire Insurance Promotes Fascione

Lancashire Insurance Promotes Fascione

Lancashire Holdings has promoted Simon Fascione to be chief underwriting officer of the company’s Bermuda operation, Lancashire Insurance Company [LICL]. Mr. Fascione has played an instrumental role in the development of LICL’s reinsurance business, and more recently in the launch of Accordion Reinsurance, Lancashire group’s fully... Read more of this article