Hashtag: #BermudaInsurance

Aspen Declares Dividends On Preference Shares

Aspen Declares Dividends On Preference Shares

Aspen Insurance Holdings Limited announced that the Board of Directors has declared the following dividends on its Preference Shares:Quarterly dividend of $0.3719 per share on its 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares with a $25 liquidation preference per share;Quarterly dividend of $0.3516 per share on its 5.625%... Read more of this article

AM Best Revises Outlooks For Somerset Re

AM Best Revises Outlooks For Somerset Re

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” of Somerset Reinsurance Ltd. [Somerset Re] [headquartered in Pembroke, Bermuda]. A statement from the ratings agency said, “The Credit Ratings reflect Somerset Re’s balance sheet... Read more of this article

Thomas Parcell Joins Lockton Re In Bermuda

Thomas Parcell Joins Lockton Re In Bermuda

Lockton Re announced that Thomas Parcell has joined Lockton Re’s new Bermuda platform as Chief Broking Officer. Commenting on the appointment, Keith Harrison, International CEO, Lockton Re, said, “We are delighted to have Tom join Lockton Re, his experience and standing in Non-Marine Retrocession and ILW trading brings further depth and breadth... Read more of this article

Guy Carpenter On Reinsurance Implications

Guy Carpenter On Reinsurance Implications

Following the ruling by the UK Supreme Court on policyholders affected by the COVID pandemic, Guy Carpenter has produced a paper which looks at the reinsurance implications of the decision. Compiled by David Priebe, Chairman, Guy Carpenter, Lara Mowery, Global Head of Distribution, Guy Carpenter and Michael Sevi, General Counsel and Chief Compliance... Read more of this article

SiriusPoint Launches With Over $3B In Capital

SiriusPoint Launches With Over $3B In Capital

SiriusPoint Ltd., an international specialty insurance and reinsurance company, has launched with over $3 billion in initial capital. “The Bermuda-based Company has been formed as the result of the previously announced merger between Third Point Reinsurance Ltd., a specialty reinsurer, and Sirius International Insurance Group, Ltd., a global multi-line... Read more of this article

BIMA Appoints Grainne Richmond As President

BIMA Appoints Grainne Richmond As President

The Bermuda Insurance Managers Association announced that Grainne Richmond has been appointed President. A spokesperson said, “Ms. Richmond, who is Vice President, Strategic Risk Solutions [SRS], takes up her position at the volunteer non-profit organization on March 1, 2021. “She will be joined by Aon’s Alicia Skeete and Artex’s William... Read more of this article

PwC: Bermuda ‘Insurance Runoff Excellence’

PwC: Bermuda ‘Insurance Runoff Excellence’

“2020 saw the continual growth of Bermuda’s reputation as a place for runoff excellence,” PwC’s James Ferris said, as they released their annual Global Insurance Run-off Survey. A spokesperson said, “According to PwC’s latest Global Insurance Run-off Survey analysis, the growth in legacy activity predicted in the last edition of this... Read more of this article

ABIR Announces New Leadership Appointments

ABIR Announces New Leadership Appointments

The Association of Bermuda Insurers & Reinsurers [ABIR] today announced a slate of appointments of member company industry executives to lead committees and working groups. “ABIR has a deep bench of talented, re/insurance executives willing to lead on important regulatory, policy and international industry initiatives,” said ABIR Chair and... Read more of this article

AM Best Upgrades PMG Assurance Rating

AM Best Upgrades PMG Assurance Rating

AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating of A [Excellent] of PMG Assurance Ltd. [Bermuda]. The outlook of these Credit Ratings is stable. “The ratings reflect PMG’s balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating... Read more of this article

10% Fuel Discount For BPS, RBR, KEMH, BFRS

10% Fuel Discount For BPS, RBR, KEMH, BFRS

Police, fire, hospital and Bermuda Regiment personnel will be eligible for a 10% discount on Esso fuel purchases for two weeks in February, courtesy of CG Insurance, a member of the Coralisle Group Ltd. “Police, fire, hospital and Bermuda Regiment personnel will receive discounts at the pump starting Friday, February 12th and ending Friday, February... Read more of this article

Peters To Lead Chubb Tempest Re Bermuda

Peters To Lead Chubb Tempest Re Bermuda

Chubb Tempest Re announced that Sam Peters has been named Division President of Chubb Tempest Re Bermuda, a global leader in the catastrophe reinsurance market. A spokesperson said, “ Currently, Mr. Peters serves as Chief Actuary for both this business and for Chubb Bermuda, which provides excess casualty, professional liability and property products. “In... Read more of this article

Mosaic Launch Specialty Insurance Platform

Mosaic Launch Specialty Insurance Platform

Mosaic, a “next-generation global specialty insurer combining newly-formed Lloyd’s Syndicate 1609 with sophisticated underwriting talent,” has launched operations in Bermuda, London, the United States, and Asia. A spokesperson said,  “Mosaic is founded by seasoned industry executive Mitch Blaser, who serves as the company’s CEO. “Golden... Read more of this article

Launch Of Lecture Series Exceeds Expectations

Launch Of Lecture Series Exceeds Expectations

Finance Minister Curtis Dickinson provided opening remarks to approximately 130 persons at the launch of the Special Topics in Insurance [INS 2298]: Foundations of Bermuda’s International Re/Insurance Sector Lecture Series, recently, jointly hosted by the Association of Bermuda Insurers and Reinsurers [ABIR], Bermuda College, and St. John’s University. Minister... Read more of this article