Hashtag: #BermudaInsurance
Minister Hayward Opens Captive Conference
Minister of Labour Jason Hayward gave a keynote address to help open the Bermuda Captive Conference yesterday [Sept 9], wishing attendees “a successful and productive conference.” Minister Jason Hayward said, “Good morning, everyone. I want to extend a warm welcome to all of you, especially our guests who have traveled from overseas... Read more of this article
PwC Hosts Reinsurers At RVS In Monte Carlo
PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre [RVS] in Monte Carlo this week. A spokesperson said, “Key themes at this year’s RVS – the largest international gathering in the industry – were the ongoing hard market, improved resiliency of reinsurers, AI and concerns around increasing... Read more of this article
MultiStrat Announces Senior Promotions
MultiStrat, the specialty reinsurance and capital advisory firm, has announced two senior promotions in its underwriting team as the company continues to build out its expertise, talent, capital, brokers, investors, and carrier partners in 2024 and 2025. A spokesperson said, “Kier James has stepped up from Vice President, Underwriting, to the... Read more of this article
Enstar Group ‘Go-Shop’ Period Expires
Enstar Group Limited announced that its 35-day “go-shop” period ended without receiving any alternative acquisition proposals, as part of its $5.1 billion merger agreement with Sixth Street. A spokesperson said, “Enstar Group Limited Today announced the expiration of the 35-day “go-shop” period as provided in the previously announced definitive... Read more of this article
ABIR Members Write $171B In Premiums In 2023
Member companies of the Association of Bermuda Insurers and Reinsurers [ABIR] recorded a strong 18% year-over-year increase in premium written in 2023. A spokesperson said, “ABIR’s global underwriting report, released today, comprises data from 25 of 31 member re/insurers for the calendar year 2023. The Group generated gross written premium... Read more of this article
Enstar Group Completes $442M Deal With IAG
Enstar Group Limited has completed the previously announced transaction between one of its wholly owned subsidiaries with Insurance Australia Limited, on behalf of Insurance Australia Group [IAG], following receipt of the relevant regulatory approvals and satisfaction of the final closing conditions. A spokesperson said, “Under the terms of... Read more of this article
Lockton Re Appoints Kristopher Lynn
Lockton Re announced that Kristopher Lynn joined as a Senior Broker and Practice Leader for Agriculture, bringing nearly 20 years of industry experience to their Bermuda office. A spokesperson said, “Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker, is pleased to announce that Kristopher... Read more of this article
Arch Appoints Daniel Houston & Neal Triplett
Arch Capital Group announced that Daniel “Dan” J. Houston and Neal Triplett will join the Company’s Board of Directors, effective immediately. A spokesperson said, “Mr. Houston is a seasoned executive with a wealth of experience in the financial services sector. He is Chairman and CEO of Principal Financial Group, where he is responsible... Read more of this article
AM Best Affirms Global Atlantic’s Ratings
AM Best affirmed Global Atlantic Group’s excellent ratings, noting its “strong operating performance, neutral business profile and appropriate enterprise risk management.” A statement from the ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Ratings... Read more of this article
AM Best Affirms A-Rating For Nissan Global
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” [Excellent] of Nissan Global Reinsurance, Ltd. [NGRe] [Hamilton, Bermuda]. A statement from the ratings agency said, “The outlook of these Credit Ratings [ratings] is stable. “The ratings reflect NGRe’s balance sheet strength,... Read more of this article
Reinsurance Capital Climbs To USD 568 Billion
Total dedicated reinsurance capital in 2023 jumped by 7% to USD 568 billion, with an even larger increase projected for 2024, according to a new AM Best report. A statement from the ratings agency said, “The Best’s Market Segment Report, “Dedicated Reinsurance Capital Thrives in Hard Market,” is part of AM Best’s look at the global reinsurance... Read more of this article
Compre Completes $150M Deal With Accelerant
Compre Group completed a $150 million reinsurance deal with Accelerant, approved by the Bermuda Monetary Authority. A spokesperson said, “Compre Group Holdings Limited [Compre], the Bermuda-domiciled international legacy and reinsurance group, today announced it has completed a legacy reinsurance transaction with Accelerant, the data-driven risk... Read more of this article
