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SiriusPoint Partner With Parameter Climate

SiriusPoint Partner With Parameter Climate

SiriusPoint Ltd. has announced a strategic partnership with Parameter Climate, a full-service climate underwriting and distribution advisory firm. A spokesperson said, “As part of the transaction, SiriusPoint has purchased a significant ownership stake in Parameter Climate in addition to providing multiyear capacity and paper. Additional capacity... Read more of this article

Fitch On Bermuda, 15% Global Tax Rate & More

Fitch On Bermuda, 15% Global Tax Rate & More

“The overall benefits of maintaining a Bermuda market domicile and operations will likely endure, but the net profitability gap between Bermuda and non-Bermuda incorporated companies is expected to narrow over time,” Fitch Ratings said. A statement from the ratings agency said, “Fitch does not expect to take any near-term rating actions on... Read more of this article

War, Terrorism & Political Violence Coverage

War, Terrorism & Political Violence Coverage

Mosaic Insurance has extended its war, terrorism and political violence coverage to offer up to $600 million per risk. A spokesperson said, “The increased capacity allows the company to serve clients via domestic US or Bermuda markets through underwriting teams in both locations. Currently, Mosaic is the only carrier to write political violence coverage... Read more of this article

Mosaic Insurance Opens Office In New York City

Mosaic Insurance Opens Office In New York City

Mosaic Insurance has opened an office in New York City, its first US-based physical address for a growing number of employees. A spokesperson said, “The Midtown South office at 65 W 36th St, which will accommodate members of Mosaic’s cyber and transactional liability lines, along with technologists, and finance executives, opened this week, as the... Read more of this article

ABIR Signs On To Climate Change Principles

ABIR Signs On To Climate Change Principles

The Association of Bermuda Insurers and Reinsurers [ABIR] has signed on to the Insurers’ Principles for Climate Change Adaptation drawn up by the Insurance Institute for Business & Home Safety [IBHS] with support from the property casualty insurance industry. A spokesperson said, “The Association of Bermuda Insurers and Reinsurers has signed... Read more of this article

RenRe Estimate 2021 Q3 Net Negative Impact

RenRe Estimate 2021 Q3 Net Negative Impact

RenaissanceRe Holdings announced it estimates that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the Company’s third quarter 2021 results of operations. This estimate is primarily comprised of net negative impacts of approximately $440 million from Hurricane Ida in August 2021 and... Read more of this article

ABIR Welcomes NAIC Leaders To Bermuda

ABIR Welcomes NAIC Leaders To Bermuda

The Association of Bermuda Insurers and Reinsurers [ABIR] will welcome the leadership of the National Association of Insurance Commissioners [NAIC] to Bermuda this week “to participate in a live webinar discussion of international reinsurance and climate risk.” A spokesperson said, “The Association of Bermuda Insurers and Reinsurers... Read more of this article

RMS Estimate $1.1–$2.2B Losses From Nicholas

RMS Estimate $1.1–$2.2B Losses From Nicholas

RMS estimates that the total U.S. insured losses from Hurricane Nicholas will be between US$1.1 and US$2.2 billion, and with the island being home to many of the world’s top re/insurers it is expected some will be paying claims, A spokesperson said, “RMS, the world’s leading catastrophe risk solutions company, estimates that the total U.S. insured... Read more of this article

BILTIR Board: Scotland Courcy & Sooboodoo

BILTIR Board: Scotland Courcy & Sooboodoo

Bermuda International Long Term Insurers and Reinsurers [BILTIR]  announced that Board member Natasha Scotland Courcy is their new Vice-Chair, and that Andrew Sooboodoo has joined the Board. The Board appointments were confirmed at BILTIR’s annual 2021 Bermuda International Life and Annuity Conference, which was held as a virtual event on September... Read more of this article

Mosaic Expands Global Cyber Offering

Mosaic Expands Global Cyber Offering

Mosaic Insurance has expanded its cybersecurity business line internationally, with the addition of new team members to its UK-based unit. A spokesperson said, “The specialty insurer began underwriting global cyber coverage from Chicago April 1, just two months after launching with headquarters in Bermuda, a new Lloyd’s syndicate, 1609, and a network... Read more of this article

Dive In Bermuda Events Kick Off Tomorrow

Dive In Bermuda Events Kick Off Tomorrow

The 7th annual Dive In 2021 kicks off tomorrow [Sept 21], and runs until Thursday [Sept 23]. A spokesperson said, “Dive In is the insurance industry’s longstanding Festival promoting diversity and inclusion. This year’s Festival will take place virtually again as a result of the Pandemic. “Bermuda will host five events over the three day... Read more of this article

Francesca Gino To Address BILTIR Conference

Francesca Gino To Address BILTIR Conference

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that Professor Francesca Gino of Harvard Business School will be the keynote speaker at their 2021 annual conference. A spokesperson said, “Professor Gino is an expert on the psychology of organisations and author of Rebel Talent: Why it Pays to Break the Rules in Work... Read more of this article

North End Re Becomes 63rd BILTIR Member

North End Re Becomes 63rd BILTIR Member

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that North End Re has joined the organisation. A spokesperson said, “Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that North End Re has joined the organisation. “North End Re, a subsidiary of Brookfield Asset Management Reinsurance Partners... Read more of this article