Hashtag: #BermudaInsurance
Bermuda To Host Securities Conference
On Thursday, 14 November, 2013, insurance and reinsurance companies, sponsors, investors, securities firms and investment banks, asset managers, regulators and service providers will congregate in Hamilton, Bermuda for Convergence 2013, the Island’s inaugural global insurance-linked securities (ILS) conference. Convergence 2013 is the creation of... Read more of this article
Freisenbruch-Meyer Promotes Nine Employees
Leading up to their expansion, Freisenbruch-Meyer Group [FMG] restructured their business operations, resulting in the promotions of nine staff members and the need for additional staff to support various product lines. The company had 25 employees in 2002 and has 40 employees today. Michael Freisenbruch, President, said “The success of this company... Read more of this article
Canopius CEO Susan Patschak To Step Down
Canopius Group Limited today confirmed that Susan Patschak, Chief Executive Officer of Canopius Bermuda has decided to step down from this position with effect from 31 May 2013. This move is driven by her decision to assume a new role within the US insurance industry. Stephen Hartwig [pictured], Senior Vice President, Canopius Underwriting Bermuda Limited... Read more of this article
Kalista Launches Crop Loss Warranties
Bermuda based Kalista Global, a boutique insurance and reinsurance services company with a focus on the Insurance-Linked Securities, Catastrophe Bond and Alternative Reinsurance sectors has partnered with New Grange brokers to launch a suite of Industry Loss Warranty [ILW] product offerings aimed at the U.S. and International Multi-Peril Crop Insurance... Read more of this article
Maiden Holdings Reports Q4 Net Loss: $10.1M
Bermuda-based Maiden Holdings, Ltd. reported a fourth quarter 2012 net operating loss of $10.1 million, or $0.14 per diluted common share, compared with net operating income of $17.2 million, or $0.24 per diluted common share, in the comparative quarter in 2011. The net loss totaled $10.3 million, or $0.14 per diluted common share, in the fourth quarter... Read more of this article
Brian Gray To Join RenaissanceRe Board
Bermuda-based RenaissanceRe Holdings Ltd. announced today that Thomas A. Cooper, 76, who has served as a member of the Board since 1996, will retire as a Director, and that Brian G. J. Gray, the recently retired Group Chief Underwriting Officer of Swiss Re, will join the Board, each to occur in conjunction with the Company’s Annual General Meeting... Read more of this article
PartnerRe Records 2012 4th Quarter Profit
Bermuda-based PartnerRe Ltd. reported net income of $111.5 million, or $1.56 per share for the fourth quarter of 2012. This net income includes net after-tax realized and unrealized losses on investments of $7.4 million, or $0.12 per share. Net loss for the fourth quarter of 2011 was $17.6 million, or $0.49 per share, including net after-tax realized... Read more of this article
ACE Reports Q4 Operating Income Of $492M
Bermuda-based ACE Limited reported net income for the quarter ended December 31, 2012, of $2.22 per share, compared with $2.15 per share for the same quarter last year. Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited, commented: “ACE had a good fourth quarter, which contributed to an excellent year. Even with the impact of Superstorm... Read more of this article
OCIL Launches New Property Insurance
Bermuda-based Oil Casualty Insurance, Ltd. [OCIL] announces the introduction of a new line of insurance. Beginning in December, the Company began writing all risk property insurance on a direct and facultative reinsurance basis for energy companies. OCIL’s diversification into property insurance is being led by Rolf Fischer; previously underwriting... Read more of this article
Kalista Global Launches New Weather Product
Bermuda-based Kalista Global has partnered with New Grange brokers to launch a parametric index-based insurance weather product. The new product is called “EPC”, or “ENSO-based Parametric Cover”, and functions by utilizing sea surface temperatures taken from the National Oceanic and Atmospheric Association as the basis for payout. Sea surface... Read more of this article
ThinkRisk, Aspen Enter Underwriting Partnership
Ryan Specialty Group’s [RSG] ThinkRisk Underwriting Agency and Aspen US Insurance have entered into a new underwriting partnership. ThinkRisk will transition its existing Converging Risk program – specialized errors and omissions insurance for media, advertising, technology, privacy and network and security risks – to Aspen in the capacity as... Read more of this article
Argo Group Establishes Harambee Re Sidecar
Bermuda-based Argo Group International Holdings, Ltd. has established of Harambee Re 2013-1 Ltd for the 2013 accident year. This is the first sidecar established by Argo Group. Unlike other sidecars, which typically write either reinsurance or retrocession business, Harambee Re is the first sidecar transaction to support both a reinsurance and an insurance... Read more of this article
