Hashtag: #BermudaInsurance
AM Best Upgrades Credit Ratings Of INPEX
AM Best has upgraded the Financial Strength Rating to A [Excellent] from A- [Excellent] and the Long-Term Issuer Credit Rating to “a” [Excellent] from “a-” [Excellent] of INPEX Insurance, Ltd. [IIL] [Bermuda]. The outlook of these Credit Ratings [ratings] has been revised to stable from positive. A statement from the ratings agency said, “The... Read more of this article
BILTIR Attends NAIC Summer National Meeting
Bermuda International Long Term Insurers and Reinsurers [BILTIR] executives were in Seattle, Washington, for the 2023 National Association of Insurance Commissioners [NAIC] Summer National Meeting. A spokesperson said, “Executive Director Christine Patton and Executive Advisor The Hon. Curtis Dickinson attended the meeting and connected with U.S.... Read more of this article
NOW Receives Funding From Arch Capital
NOW Insurance, a full-stack, AI-enabled commercial insurance platform specializing in medical professional liability coverage, announced an investment from a subsidiary of Arch Capital Group Ltd. and a managing general agent partnership with Arch Insurance North America. A spokesperson said, “Proceeds from the latest capital raise will be used... Read more of this article
BMA & White Rock To Address Vesttoo Issues
The Bermuda Monetary Authority [BMA] and White Rock Insurance [SAC] Ltd. said they “jointly agreed to a course of action in the Supreme Court of Bermuda that will focus on pursuing maximum recovery for the [re]insureds impacted by the alleged fraud involving Vesttoo related segregated accounts.” A spokesperson said, “Both parties have... Read more of this article
BILTIR Announces Lineup For 2023 Conference
Bermuda International Long Term Insurers and Reinsurers [BILTIR] announced the panel lineup for the 2023 Bermuda International Life & Annuity Conference. A spokesperson said, “This year’s conference, to be held at Pier 6, Hamilton, on September 7th, will have three panels featuring industry experts sharing their opinions on relevant topics... Read more of this article
Ariel Re Welcomes New Summer Interns
Ariel Re has welcomed a new group of summer interns – Alison Hyland, Emma Stegmann, Giovanni Hollis, Kieran Malott, Lauren Way, and Sophia Stevens – in the Bermuda office. A spokesperson said, “Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has welcomed a new group of summer interns in the Bermuda... Read more of this article
Monument Re Acquires Portfolio From Federale
Monument Re announced today that its Belgian subsidiary Monument Assurance Belgium has completed the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verzekering [Federale]. Koen Depaemelaere, CEO of Monument Assurance Belgium stated that “We are pleased to have completed this transaction with Federale... Read more of this article
Mosaic Secures Strategic Investment Capital
Mosaic Insurance has secured strategic investment from two US growth-capital providers to drive the specialty insurer’s talent acquisition and product development. A spokesperson said, “Alternative asset manager Atalaya Capital Management and financial services-focused private-equity firm Culpeper Capital Partners LLC will take a minority stake... Read more of this article
Patrick Neal Appointed CEO Of Freisenbruch
Freisenbruch Insurance Services Ltd. [FIS] announced that Mr. Patrick Neal has been appointed Chief Executive Officer effective July 1st, 2023. A spokesperson said, “With a strong track record of success and extensive experience in strategic development and project execution, Mr. Neal brings a wealth of leadership and client-centric solutions... Read more of this article
Mosaic Expands Summer Intern Program
Mosaic Insurance has welcomed its third year of summer interns, expanding the program to include five students — Meron Simons, Kriston Adams, Meghan Haran, Gaurav Roychowdhury, and David Glendinning – at its Bermuda, New York, Chicago, and London offices. A spokesperson said, “Mosaic Insurance has welcomed its third year of summer interns,... Read more of this article
PwC Wins Digital Innovation Award For AI
PwC was awarded the 2023 Digital Innovation of the Year Award at the 12th annual International Accounting Forum & Awards in London, June 29, for its suite of AI services in support of its global auditors. A spokesperson said, “PwC’s award submission, entitled: “Next generation AI services for the next generation auditor,” focuses on... Read more of this article
CG Insurance Launches Internship Programme
CG Insurance launched their Summer Internship Programme earlier this summer, with Chiara Pesci, Sam Morris, Jya Ratteray-Smith and Casey Morris working in the CG Insurance Bermuda office. A spokesperson said, “CG Insurance is proud to announce the launch of its highly anticipated Summer Internship Programme earlier this summer. Building upon... Read more of this article
