Hashtag: #BermudaInsurance
Brit Launches $75 Million Sidecar Versutus
Brit Insurance unveiled Versutus Ltd, a new Bermuda-domiciled special purpose reinsurer which the company said “will reinsure a share of Brit’s existing worldwide property catastrophe excess of loss portfolio.” “The Bermuda-domiciled special purpose vehicle will initially be capitalised at $75m. Capital has been committed by... Read more of this article
Catlin Sells Investment In Box Innovation Group
Bermuda-based Catlin Group Limited, announced that its subsidiary, Catlin Insurance Company Ltd., has entered into an agreement for the sale of its investment in Box Innovation Group Limited to Aioi Nissay Dowa Insurance Company of Europe Limited. “Aioi will acquire shares from CICL as well as other shareholders, and as a result of the transaction... Read more of this article
AM Best Affirms Tokio Millennium Re Ratings
A.M. Best has affirmed a financial strength rating of A++ [Superior] and an issuer credit rating of “aa+” of Tokio Millennium Re AG. The outlook for both ratings is stable. The ratings agency said, “The ratings reflect TMR’s superior financial strength, its solid risk management, favorable historical operating performance and... Read more of this article
Chairperson: BFIS Appoints Gail Martin At AGM
The Donor Members of The Bermuda Foundation For Insurance Studies [BFIS] appointed Gail Martin as BFIS’ first female Chair at the Foundation’s AGM held on December 15, 2014. Mrs. Martin is a VP and Underwriter with Hannover Re and first joined the BFIS Steering Committee in 2002 and the Board in 2006. Outgoing chairman, Michael Fisher said “After... Read more of this article
Hamilton Re CEO On 21st Century Cyber Risks
Chief Executive Officer of Hamilton Re, Kathleen Reardon, outlined issues facing the re/insurance sector in a speech delivered at the Bermuda Insurance Institute’s [BII] annual Christmas luncheon this week. Mrs. Reardon listed the influx of alternative capital, new catastrophic risks such as cyber attacks and continued low interest rates as some of... Read more of this article
Stephen Catlin Named Insurance Hall of Famer
Stephen Catlin — Chief Executive of Bermuda-based Catlin Group Limited –will be the 2015 Insurance Hall of Fame Award recipient, the International Insurance Society [‘IIS’] has announced. The Insurance Hall of Fame Award pays tribute to persons who have made a broad, encompassing and lasting contribution to the insurance industry and... Read more of this article
Sequant Re Launch New Reinsurance Company
Sequant Re Holdings Limited announced that it has completed its financing and is launching Sequant Reinsurance Company Limited, a newly formed Bermuda based global reinsurance company. The company said, “Sequant Re combines Insurance-Linked Securities [ILS] and Bermuda’s unique segregated account structure to offer a flexible and highly efficient... Read more of this article
Insurers To Offer BTUC Members 10% Discount
The five largest local insurers of motorcycles, motorcars and home insurance have agreed to offer a 10% discount to all BTUC members relating to their motorcar, motorcycle and home insurance for a two year period commencing January 1st 2015; Home Affairs Minister Michael Fahy said today [Dec 10] Minister Fahy said, “For agreeing to do offer the... Read more of this article
CEOs Debate Future Of Alternative Capital
Alternative capital is likely to be a long-term feature of the reinsurance marketplace but the industry must remain alert to the dangers of separating risk from capital, according to several members of a panel of CEOs drawn from both sides of the Atlantic to debate the new normal in financial services at the Bermuda Monetary Authority’s 2014 insurance... Read more of this article
Bermuda To Host 2016 ALARYS Conference
Bermuda has been selected to host ALARYS 2016, a biennial conference for risk managers from countries throughout Latin America, the Bermuda Business Development Agency [BDA] announced today. It will be the third time the Asociación Latinoamericana de Administradores de Riesgos y Seguros [ALARYS] has chosen Bermuda as host country for the trilingual... Read more of this article
BF&M’s 2014 Third Quarter Financial Results
BF&M Limited today [Dec 9] reported shareholders’ net income for the nine month period ended 30th September 2014 of $21.6 million, resulting in an annualized return on shareholders’ equity of 12.1%. Shareholders’ net income for the comparative nine month period of 2013 was $15.8 million. President & CEO John Wight [pictured] stated that... Read more of this article
Hamilton Insurance Launches Community Giving
Hamilton Insurance Group, the Bermuda-based holding company for property casualty reinsurer Hamilton Re and property casualty insurer Hamilton USA, has established a Community Giving Committee to oversee the organization’s philanthropic activity in Bermuda. Hamilton, which was established in December 2013 by Brian Duperreault and a group of investors,... Read more of this article
