Hashtag: #BermudaInsurance

Brit Ltd Appoints David Cary As Deputy Head

Brit Ltd Appoints David Cary As Deputy Head

Brit Ltd announced that David Cary has been appointed to the role of Deputy Head of Property Treaty, Bermuda. A spokesperson said, “David brings nearly 20 years’ experience in the reinsurance sector. Before joining Brit, he was Underwriting Manager and Head of Property & Casualty, Bermuda for QBE Re. Prior to this, David held senior roles... Read more of this article

AM Best Assign B++ Rating To Mozart Insurance

AM Best Assign B++ Rating To Mozart Insurance

AM Best has assigned a Financial Strength Rating of B++ [Good] and a Long-Term Issuer Credit Rating of “bbb” [Good] of Mozart Insurance, Ltd. [Mozart] [Bermuda]. The outlook assigned to these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Mozart’s balance sheet strength, which AM Best assesses as very strong,... Read more of this article

Wilton Re Sponsor Devonshire Colts Program

Wilton Re Sponsor Devonshire Colts Program

Wilton Reinsurance Bermuda has become the new lead sponsor for the Devonshire Colts FC under 5 to under 15 youth programme for the next four years. A spokesperson said, “With approximately 125 players and 20 coaches, the Devonshire Colts youth programme not only focuses on the sport of football and player development but the importance of character... Read more of this article

Coalition’s Cyber Insurance Deal With Aspen

Coalition’s Cyber Insurance Deal With Aspen

Coalition has inked a new multi-year capacity deal with Aspen to roll out cyber insurance capacity in the U.S. starting April 1, 2024. A spokesperson said, “Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced it has executed a new, multi-year capacity agreement with Aspen... Read more of this article

Hamilton Appoints Dr Vaughan & Patterson

Hamilton Appoints Dr Vaughan & Patterson

Hamilton Insurance Group has welcomed Dr. Therese Vaughan and Neil Patterson to its Board of Directors, effective March 11, 2024, with Patterson assuming the role of Chair of the Audit Committee, while Pauline Richards retires after a decade of service. A spokesperson said, “Hamilton Insurance Group, Ltd. announced today that Dr. Therese Vaughan... Read more of this article

AM Best Affirms Validus Re’s Excellent Ratings

AM Best Affirms Validus Re’s Excellent Ratings

Following a review, AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Ratings of Validus Reinsurance, Ltd. and Validus Reinsurance [Switzerland] Ltd. The ratings agency said, “AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A [Excellent]... Read more of this article

Fidelis Launches Quarterly Dividend Program

Fidelis Launches Quarterly Dividend Program

Fidelis Insurance Holdings announced that its Board of Directors has approved the initiation of a dividend program under which the Company intends to pay a quarterly cash dividend. The initial dividend will be $0.10 per share, payable on March 29, 2024 to common shareholders of record on March 15, 2024. Dan Burrows, Fidelis Insurance Group CEO stated,... Read more of this article

Fidelis Partners With Whitney Middle School

Fidelis Partners With Whitney Middle School

Fidelis Insurance Holdings –  the Bermuda headquartered global specialty insurance business — announced a partnership with Whitney Institute Middle School. A spokesperson said, “Under the new agreement, Fidelis Insurance will sponsor extra tutoring for certain students between the ages of 11 – 13 for the remainder of the academic... Read more of this article

White Mountains Insurance Elects Reid Campbell

White Mountains Insurance Elects Reid Campbell

The Board of Directors of White Mountains Insurance Group, Ltd. has elected Reid T. Campbell as a director of the Company. Mr. Campbell’s election to the Board follows his retirement as President of the Company after a distinguished thirty-year career at White Mountains. CEO Manning Rountree said, “I thank Reid for the substantial value... Read more of this article

Ascot Launches New Reinsurance Business

Ascot Launches New Reinsurance Business

Ascot announced the launch of its Marine & Energy Treaty reinsurance business in Bermuda, led by Alex Kirkby, with support from Emma Foxley. A spokesperson said, “Ascot today announces the launch of the company’s Marine & Energy Treaty reinsurance business in Bermuda, led by the newly appointed Alex Kirkby, Senior Vice President, Head... Read more of this article

Everest Promotes Two Reinsurance Leaders

Everest Promotes Two Reinsurance Leaders

Everest announced the promotion of two key leaders in the Reinsurance Division, with Jill Beggs promoted to Reinsurance EVP and COO and Jiten Voralia appointed as Head of North America Treaty Reinsurance. A spokesperson said, “Everest Group, Ltd. [NYSE: EG], a global underwriting leader providing best-in-class property, casualty, and specialty... Read more of this article

Mosaic Offers $25m In Customized Coverage

Mosaic Offers $25m In Customized Coverage

Mosaic Insurance has launched a suite of specialized financial institutions products, offering $25 million in investment management insurance [IMI], blended with cyber and other coverage for asset managers, funds, and associated directors. A spokesperson said, “The global company’s new asset manager form combines professional indemnity, IMI,... Read more of this article

AM Best Upgrades CG United Insurance Ratings

AM Best Upgrades CG United Insurance Ratings

AM Best has upgraded the Financial Strength Rating and the Long-Term Issuer Credit Rating of CG United Insurance The ratings agency said, “AM Best has upgraded the Financial Strength Rating [FSR] to A [Excellent] from A- [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] to “a” [Excellent] from “a-” [Excellent] of CG United... Read more of this article

AM Best Downgrades Credit Ratings Of 777 Re

AM Best Downgrades Credit Ratings Of 777 Re

AM Best has downgraded the Financial Strength Rating of 777 Re. Ltd., citing concerns over the company’s “marginal operating performance, very limited business profile and weak enterprise risk management.” The ratings agency said, “AM Best has downgraded the Financial Strength Rating to C- [Weak] from B [Fair] and the Long-Term... Read more of this article

Appleby Bermuda Top-Ranked In Chambers

Appleby Bermuda Top-Ranked In Chambers

Law firm Appleby has received top rankings in Bermuda in the 2024 Chambers Global Legal Guide. Appleby’s Bermuda office has been ranked in Band 1, the highest tier, in three categories: Corporate & Finance, Dispute Resolution and Insurance. A spokesperson said, “Appleby also has 10 lawyers ranked across the categories: “Corporate &... Read more of this article

Warwick Re Announces Transaction Completion

Warwick Re Announces Transaction Completion

Warwick Re Ltd, a Bermuda-based reinsurance company, announced it has completed its second transaction, an annuity reinsurance agreement with a U.S. life insurer. A spokesperson said, “Under the terms of the agreement, Warwick Re has reinsured an inforce block of U.S. annuity business and the cedant will continue to service and administer the... Read more of this article