Hashtag: #BermudaInsurance
Enhancements And Modifications To ‘Foundation’
Dmitry Mnushkin has announced new enhancements to his software platform, Foundation, that “will provide greater value to clients in the ILS, reinsurance and brokerage sectors.” A spokesperson said, “Launched in March 2020, Foundation provides web-based solutions to help [re]insurance and ILS businesses underwrite natural catastrophe... Read more of this article
Centurion Appoints Ryan Eve As VP Broking
Centurion Insurance Services Limited — a wholly owned subsidiary of the Argus Group Holdings Limited — announced the appointment of Ryan Eve as Vice President, Broking. A spokesperson said, “In his new position, Ryan will lead operations at Centurion, a Bermuda-based insurance broker that has successfully served the public, financial and... Read more of this article
Convex Reciprocal Jurisdiction Reinsurer Status
Convex Group Limited today announced that Convex Insurance UK Limited [CIL] and Convex Reinsurance Limited [CRL] received approval from the National Association of Insurance Commissioners [NAIC] and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer, effective from 1 January 2022. A spokesperson said, “This... Read more of this article
BILTIR: Economic & Social Benefits For Bermuda
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has produced a Fact Sheet showing the “widespread economic and social benefits which the organisation brings to Bermuda. A spokesperson said, “BILTIR Fact Sheet highlights: The Bermuda life re/insurance sector companies hold $667 billion of assets under management BILTIR member... Read more of this article
Nayms Briefing On Digital Asset Risk Insurance
Members of Bermuda’s digital asset, insurance and reinsurance sectors “have gained an insight into a new blockchain based market solution for insuring digital asset risk” at a Nayms breakfast briefing hosted in conjunction with Carey Olsen Bermuda Limited. A spokesperson said, “The Bermuda regulated startup Nayms is leading the... Read more of this article
Mosaic Insurance Launches London M&A Team
Mosaic Insurance has launched a transactional liability team in the United Kingdom and expanded its M&A unit in the United States to respond to the global market’s record pace and volume of deal activity. The company announced the hiring of Sam Whiteman and Andrew Gofton-Salmond in London to establish its international transactional liability... Read more of this article
AM Best Affirms Credit Ratings Of Orion Re
AM Best has affirmed the Financial Strength Rating of B+ [Good] and the Long-Term Issuer Credit Rating of “bbb-” [Good] of Orion Reinsurance [Bermuda] Ltd. [Orion Re] [Hamilton, Bermuda]. The outlook of these Credit Ratings [ratings] is stable. A statement from the ratings agency said, “The ratings reflect Orion Re’s balance sheet strength,... Read more of this article
AM Best Revises Outlooks For Oceanview
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating [FSR] of A- [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “a-” [Excellent] of Oceanview Life and Annuity Company [Oceanview Life] [Denver, CO] and its reinsurer affiliate, Oceanview Reinsurance Ltd. [Oceanview Re] [Hamilton,... Read more of this article
Lloyd’s CEO John Neal Visits Bermuda Market
Lloyd’s of London CEO John Neal met regulatory and insurance leaders during a visit to the Bermuda market this week coordinated by Mosaic Insurance. “A big thank-you to Mosaic for facilitating the meetings and arranging a great schedule—it’s been a very valuable trip,” said Neal, who flew on to New York yesterday to continue engaging Lloyd’s... Read more of this article
Essent Closes $439.4M Reinsurance Transaction
Essent Group announced that its wholly-owned subsidiary, Essent Guaranty, Inc., has obtained $439.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in April 2021 through September 2021 from Radnor Re 2021-2 Ltd., a newly formed Bermuda special purpose insurer. “Radnor Re 2021-2 Ltd. is... Read more of this article
ABIR Appoints Lynesha Lightbourne
The Association of Bermuda Insurers and Reinsurers [ABIR] announced the appointment of Lynesha Lightbourne as Assistant Director of Public Policy and Government Relations. A spokesperson said, “Ms Lightbourne arrives with 18 years of business development, financial services, and high net worth client service experience, and joins ABIR from the... Read more of this article
Castle Harbour & Harrington Sound Ratings
“AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Ratings of “a+” [Excellent] of Castle Harbour Insurance Limited and Harrington Sound Insurance Limited. These companies are captive insurance companies for Schlumberger Limited. The outlook of these Credit Ratings [ratings] is stable. Both captives... Read more of this article
