Hashtag: #BermudaInsurance
AM Best Affirms Ratings Of Aspen Insurance
A.M. Best has affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “a” of Aspen Insurance UK Limited [AIUK] [United Kingdom], Aspen Bermuda Limited [ABL] [Bermuda], Aspen American Insurance Company [AAIC] [Dallas, TX] and Aspen Specialty Insurance Company [ASIC] [Bismarck, ND].... Read more of this article
PwC, S&P Global Reinsurance Conference
Amid a perfect storm of soft pricing, low investment yields and new industry disruptors, insurance industry leaders will offer their views on the factors re-defining the competitive landscape at the PwC – S&P Global Ratings Bermuda Reinsurance conference on Tuesday, November 8th. This year’s conference, Bermuda’s leading industry event,... Read more of this article
Webcasts Promote Captive Insurance In Bermuda
The benefit of Bermuda captive insurance companies for major corporations of all industries is the focus of a new series of webcasts produced by Bermuda Business Development Agency [BDA]. Seven videos are being released over the next four weeks explaining what captives are and how they can be used as highly-effective self-insurance vehicles to cut costs... Read more of this article
Bermuda Captive Insurance Forum In Toronto
A team of Bermuda industry and regulatory experts heads to Toronto, Canada later this month to educate corporate executives about the risk-management benefits of captive insurance. Bermuda Business Development Agency [BDA] leads the group, which will host an executive forum on Tuesday, November 22 at the city’s downtown Shangri-La Hotel. Representatives... Read more of this article
Neon Appoints Dwayne Hunt As Senior VP
Neon has appointed Dwayne Hunt to the role of Senior Vice President – Property Insurance in Neon’s Bermuda office. Neon opened a Bermuda office earlier this year to provide greater access to both the local and US markets as the company expands its international footprint. Hunt joins Neon, effective 1 December, from his current role as Senior... Read more of this article
Somerset Re Completes $375M Capital Raise
Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized risk management solutions to the life insurance and annuity sectors, helping clients efficiently deploy capital, improve long-term... Read more of this article
2016 Bermuda Insurance Market Conference
The 2016 Bermuda Insurance Market Conference, entitled ‘The Power of Prediction’, will take place on Friday, October 21 at Chubb. The event’s speakers will include Leila Madeiros from the Association of Insurers and Reinsurers [ABIR] and Ross Webber of the Bermuda Business Development Agency [BDA], while overseas presenter Libbe Englander,... Read more of this article
AM Best: ‘Reinsurance Market To Bear Brunt’
A.M. Best expects the reinsurance market to bear the brunt of insured losses from damage on Bermuda caused by Hurricane Nicole, according to a new briefing. The company said, “Hurricane Nicole inflicted a direct blow on Bermuda on Oct. 13, 2016, as a category 3 hurricane. The eye of the storm passed directly over the island, causing Bermuda to... Read more of this article
Hurricane Nicole: FMG Handles 85 Claims
Freisenbruch-Meyer Group is currently handling 85 claims attributable to Hurricane Nicole which hit the Island on Thursday. The company said, “We are pleased to report that a number of clients utilized our EClaims App, with the remainder contacting us via traditional means. :To best serve our personal and corporate clients, our offices were open... Read more of this article
‘Testament To High Standards Of Construction’
Colonial Insurance have received 22 claims so far, and said that as a comparison, they had over 400 claims after Hurricane Matthew hit another island last week, saying the variance in claims is a “great testament to the high standards of construction in Bermuda.” Juanita Coley, Claims Manager, Colonial Insurance, said: “We have had very... Read more of this article
Freisenbruch-Meyer Group Opens For Business
Freisenbruch-Meyer Group’s offices were open for business as of 9.00am today [Oct 14], remaining open until 5.00pm to assist their clients with any claims resulting from Hurricane Nicole. A spokesperson said, “Our offices will also be open for business tomorrow, Saturday October 15th, 2016 from 9am to 5pm. Freisenbruch-Meyer Group will... Read more of this article
Fitch: Conditions Ripe For Reinsurance M&A
Two deals announced last week point to a resurgence in reinsurance M&A following a drop in valuation multiples and as firms seek diversification and scale in a tough market, Fitch Ratings says. “Reinsurance M&A stalled this year after a spike in valuations, with several transactions pricing at around 2x book value and probably putting... Read more of this article
