Hashtag: #BermudaInsurance
Toby Smith Joins Mosaic As Americas CEO
Toby Smith joined Mosaic Insurance as Americas CEO, effective July 23. A spokesperson said, “Based in New York, Smith is a top-ranking industry figure who will become a member of the specialty insurer’s leadership team, with specific responsibility for spearheading market engagement and profitable growth across the US, Canada, and the wider... Read more of this article
AM Best Affirms Assured Guaranty A+ Rating
AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Rating of “aa” [Superior] for Assured Guaranty Re Overseas Ltd. The ratings agency said, “AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Rating of “aa” [Superior] of Assured Guaranty Re... Read more of this article
AM Best Affirms Lion Reinsurance’s Rating
AM Best has affirmed Lion Reinsurance Company Limited’s A [Excellent] Financial Strength Rating and “a” [Excellent] Long-Term Issuer Credit Rating, with a stable outlook. The ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “a” [Excellent]... Read more of this article
AM Best Affirms Everest Group’s A+ Ratings
AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings of “aa-” [Superior] for Everest Group, Ltd.’s operating subsidiaries. The ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of... Read more of this article
ABIR Holds Leadership Dialogue With NAIC
The Association of Bermuda Insurers and Reinsurers [ABIR] hosted leaders from the National Association of Insurance Commissioners [NAIC], the US standard-setting and regulatory support body governed by chief insurance regulators from all 50 states, for discussions on market trends and matters of mutual interest. A spokesperson said, “Executives from... Read more of this article
SiriusPoint And Service First Insurance
SiriusPoint and Service First Insurance have announced their partnership to underwrite commercial property risks up to €10 million in Ireland. A spokesperson said, “SiriusPoint Ltd., a global specialty insurer and reinsurer, and Service First Insurance, a managing general agent [MGA] that provides insurance solutions for the commercial and business... Read more of this article
Beryl U.S. Insured Losses Estimate: $2.5B-$4.5B
Moody’s RM Event Response estimates that U.S. insured losses from Hurricane Beryl will likely fall between US$2.5 billion to US$4.5 billion, and represent insured losses associated with wind, storm surge, and precipitation-induced flooding. A spokesperson said, “Losses to the National Flood Insurance Program [NFIP] from this event are estimated... Read more of this article
Mosaic Insurance Restructures Teams
Mosaic Insurance today announced a “restructure of roles across its underwriting and operational teams to drive growth of its all-important agency business.: A spokesperson said, “The reorganization, effective immediately, demonstrates Mosaic’s evolution as a global agency whose business increasingly is driven by trade-capital partners... Read more of this article
AM Best Affirms Ratings For Aspen Group
AM Best has affirmed the Financial Strength Ratings of A [Excellent] and Long-Term Issuer Credit Ratings of “a” [Excellent] for Aspen Insurance UK Limited, Aspen Bermuda Limited, Aspen American Insurance Company, and Aspen Specialty Insurance Company, as well as the Long-Term ICR of “bbb” [Good] for Aspen Insurance Holdings Limited, maintaining... Read more of this article
Aspen Insurance Launches Aspen Data Labs
Aspen Insurance Holdings Limited has launched Aspen Data Labs, a new platform to “deliver Aspen’s digital strategy and drive forward the business’ data and artificial intelligence agenda.” A spokesperson said, “Aspen Data Labs will bring together employees and partners to collaborate on data science and AI projects that improve... Read more of this article
Column: Horner On ESG Data, Insurance & More
[Column written by Patrice Horner] Commercial Risk sessions during the London Climate Week delved deeper into practicalities. The type of underwriting will determine the type of data required for decision-making. Clients cannot be requested to provide 50 data points on a long questionnaire in each instance. One approach is using the Key Performance... Read more of this article
Column: Horner On Climate Solutions & Insurance
[Column written by Patrice Horner] A Climate Investment Summit session on Leveraging Insurance for Resilience Systems focused on methods for financial systems adaptations to create Climate Solutions. The Central Bank of Ireland has sustainability and climate oversight integrated within is economic supervision. Resilient financial systems and a smooth... Read more of this article
Monument Re Acquires Portfolio From Contassur
Monument Re Limited announced today that its Belgian subsidiary Monument Assurance Belgium N.V. has completed the acquisition of a branch 21 closed book classical group life insurance portfolio from Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen SA/NV [Contassur], following receipt of regulatory approval from the National Bank... Read more of this article
Ministry Of Health Responds To News Of Merger
The Ministry of Health has responded to news that BF&M and Argus “have signed a definitive amalgamation agreement, pursuant to which BF&M and Argus will combine in an all-stock transaction.” A Government spokesperson said, “The Ministry of Health acknowledges the announcement of the merger between BF&M and Argus, two of Bermuda’s... Read more of this article
Brit Ltd Appoints Jacques Bonneau
Brit Ltd announced the appointment of Jacques Bonneau to the Board of Brit Re as a Non-Executive Director, subject to regulatory approval. A spokesperson said, “Jacques retired as CEO and President of PartnerRe in March 2024, and is a highly regarded leader within the global [re]insurance sector. Other positions Jacques has held in his career... Read more of this article
Athene Life Hosts Annual Career Expo
Athene Life Re hosted its second annual Life Career Expo at Pier 6 in Hamilton. A spokesperson said, “This year’s event brought together nearly 350 attendees, which featured young Bermudians speaking about their career experiences, panels with industry experts and roundtable discussions on industry topics such as job candidate branding and the... Read more of this article
