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Validus Group Appoints China Representative

Validus Group Appoints China Representative

Bermuda-based Validus Holdings, Ltd. announced the appointment of Ellie Zhou as Underwriting Manager for Greater China to support the Validus Groups’ existing Chinese customers and grow the firm’s business in the region. “China is one of the world’s largest and fastest-growing insurance markets and continues to expand significantly,”... Read more of this article

Appleby Report Details China’s FDI & M&A

Appleby Report Details China’s FDI & M&A

Law firm Appleby released the second edition of its annual China Offshore report, which examines China’s foreign direct investment [FDI] and mergers and acquisition activity outside its own borders. Using the most current available data on investment and deal flow in China and Hong Kong, the report provides an overview of the movement of FDI and... Read more of this article

Garrod: China & Start-Ups Mitigate M&A Effects

Garrod: China & Start-Ups Mitigate M&A Effects

Growing Chinese interest in the Bermuda reinsurance market and a raft of new start-ups forming on the Island should ease concern over the effects of a spate of mergers and acquisitions. That is the view of Chris Garrod [pictured], a Director in the Insurance Practice of Conyers Dill & Pearman Limited, who believes the M&A trend will continue... Read more of this article

Explosion Insurance Losses Could Be $1.5B

Explosion Insurance Losses Could Be $1.5B

The insured losses from a series of explosions at a chemical warehouse in Tianjin on 12 August are “likely to be material” for Chinese insurance companies, potentially exceeding $1 – 1.5 billion, said Fitch Ratings, as the “high insurance penetration rate in this area could make the blasts one of the most costly catastrophe claims... Read more of this article

America’s Cup To Be Broadcast In China

America’s Cup To Be Broadcast In China

Following an agreement with CCTV Sports Channel, the America’s Cup will be broadcast in China, the organisers announced today. Today’s announcement follows after other broadcast agreements were announced; NBC Sports is set to show the America’s Cup in the United States; French broadcaster CANAL+ will broadcast the America’s Cup to... Read more of this article

Bermuda-Based Chinese Insurer Signs Deal

Bermuda-Based Chinese Insurer Signs Deal

A Bermuda-based Chinese insurance company is poised to launch an innovative risk-industry product under a deal signed in Hamilton this month. A signing ceremony, held earlier this month at the Hamilton Princess hotel to formally mark the new venture, was attended by Chinese and Bermuda companies, Bermuda’s regulator, and the Bermuda Business Development... Read more of this article

Photos: Philippine Embassy Team Visit Bermuda

Photos: Philippine Embassy Team Visit Bermuda

It was a busy time for the Filipino Association as they were visited by the Philippine Embassy team from Washington DC for this year’s consular and labour outreach. “A total of 242 Philippine passports renewals, 12 Reports of Births, 8 Reports of Marriage, and 3 Oaths of Dual Citizenship, and authentication of documents were held by the Consular... Read more of this article

SoftBank Team Japan Enter The America’s Cup

SoftBank Team Japan Enter The America’s Cup

The America’s Cup have confirmed that a Japanese team will enter the race, with SoftBank Team Japan set to compete in the 2015 America’s Cup World Series events and challenge for the 2017 America’s Cup in Bermuda. The statement said, “SoftBank Corp. and the Kansai Yacht Club announced they have come to an agreement to challenge for the... Read more of this article

Reports: Japanese Team To Join America’s Cup

Reports: Japanese Team To Join America’s Cup

A Japanese team is expected to announce they will enter the America’s Cup, according to media report from the Japan Times, sailing website Scuttlebutt and the Independent. Scuttlebutt Sailing News reports, “The long-heralded announcement that Japan is to challenge again for the America’s Cup is expected finally to be made by the end of next... Read more of this article

Allied World Completes Acquisitions In Asia

Allied World Completes Acquisitions In Asia

Allied World Assurance Company Holdings has completed the acquisitions of the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc [RSA]. The closings follow receipt of all necessary regulatory and court approvals. The acquisitions, announced in August 2014 and valued at approximately $193 million at current exchange rates,... Read more of this article

Flora Duffy Wins XTERRA Race In Philippines

Flora Duffy Wins XTERRA Race In Philippines

[Updated] Flora Duffy has made a strong start to her 2015 competitive season, racing to victory in the XTERRA Off Road Triathlon in Philippines this weekend, with the Bermudian crossing the line some 12 minutes ahead of the second place female athlete. The two-time Olympian dominated the international field in the 1.5K-swim, 35K bike and 10K run, winning... Read more of this article

Cargo Ship Sinks Off Vietnam With 19 Crew

Cargo Ship Sinks Off Vietnam With 19 Crew

A cargo ship — operated by Bermuda-registered Gearbulk Holding Limited — sank off East Vietnam Sea on Friday [Jan 2] carrying at least 19 Filipino crew members. The New York Times reports that only one man is known to have survived, and e lone survivor — the chief cook on the ship — is refusing to cooperate with rescuers, making... Read more of this article

China Re Receives Approval From Lloyd’s

China Re Receives Approval From Lloyd’s

China Reinsurance [Group] Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focussing on reinsurance, incepting from 1 January 2015. The China Re Syndicate [Syndicate 2088] will be managed by Catlin Underwriting... Read more of this article