Hashtag: #BermudaInsurance
Aquarian Closes Acquisition of Somerset Re
Aquarian Holdings announced the closing of its acquisition of Somerset Reinsurance Limited, a leading provider of reinsurance solutions to the U.S. life insurance and annuity market. A spokesperson said, “Aquarian announced in 2022 that it had signed a definitive agreement to acquire a controlling interest in the Bermuda-domiciled reinsurer and... Read more of this article
Apex Group, Mosaic & Aon Launch Platform
Apex Group Ltd, a global financial services provider, today announces the launch of Apex Protect, in partnership with specialty insurer Mosaic Insurance and Aon PLC. A spokesperson said, “Apex Protect offers pioneering and enhanced directors and officers [D&O] coverage for funds, factoring ESG credentials into the insurance risk assessment.... Read more of this article
WiRe To Host Lifetime Achievement Award
Women in Reinsurance [WiRe] announced that it will host the first ever Lifetime Achievement Award – an industry award designed to recognize a woman who has made an outstanding contribution to the Bermuda reinsurance industry. A spokesperson said, “WiRe extends a call for nominations for the Lifetime Achievement Award. Among other attributes, the... Read more of this article
Symetra Financial Establishes Bermuda Affiliate
Symetra Financial Corporation, a wholly owned subsidiary of Sumitomo Life Insurance Company, has established Symetra Bermuda Re Ltd. A spokesperson said, “Working with regulators in the U.S., Japan and Bermuda, Symetra Financial Corporation, a wholly owned subsidiary of Sumitomo Life Insurance Company, today announced that it had established Symetra... Read more of this article
AM Best Assigns Ratings To PartnerRe Solutions
AM Best has assigned a Financial Strength Rating of A+ [Superior] and a Long-Term Credit Rating of “aa-” [Superior] to PartnerRe Insurance Solutions Bermuda Ltd.. The outlook assigned to these Credit Ratings is stable. PartnerRe Ins Solutions BM Ltd is a newly added member of PartnerRe Ltd. The ratings agency said, “The ratings reflect PartnerRe... Read more of this article
AM Best Assigns Credit Ratings To Fontana Re
AM Best has assigned a Financial Strength Rating [FSR] of A [Excellent] and a Long-Term Issuer Credit Rating [Long-Term ICR] of “a+” [Excellent] to Fontana Reinsurance Ltd. [Fontana Re]. AM Best has assigned a Financial Strength Rating [FSR] of A [Excellent] and a Long-Term Issuer Credit Rating of “a+” [Excellent] to Fontana Reinsurance Ltd.... Read more of this article
AM Best Affirms Credit Ratings Of Group Ark
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” [Excellent] of Group Ark Insurance Limited [GAIL] [Bermuda]. GAIL is a wholly owned subsidiary of Ark Insurance Holdings Limited [Ark], the non-operating holding company of the Ark group. Concurrently, AM Best has affirmed the Long-Term... Read more of this article
AM Best Downgrades Qatar Insurance Ratings
AM Best has downgraded the Financial Strength Rating to A- [Excellent] from A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] to “a-” [Excellent] from “a” [Excellent] of Qatar Insurance Company Q.S.P.C. [QIC] [Qatar], and its subsidiary Antares Reinsurance Company Limited [Antares Re] [Bermuda]. The outlook of these Credit... Read more of this article
Simply Business Partners With Arch Insurance
Simply Business partners with Arch Insurance to expand professional liability product offering. A spokesperson said, “Simply Business, LLC., a Boston-based digital insurance company focused on small businesses, today announced a partnership with specialty insurer Arch Insurance to offer monoline professional liability solutions to small business... Read more of this article
ABIR To Pay Billions For Hurricane Recovery
Member companies of the Association of Bermuda Insurers and Reinsurers [ABIR] “will shoulder a significant portion of the billions of dollars in insurance claims arising from Hurricane Ian, extending a long track record of support for Americans in times of crisis.” A spokesperson said, “Projections by catastrophe modelers and analysts... Read more of this article
AM Best Affirms Credit Ratings Of Brit Re
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” [Excellent] of Brit Reinsurance [Bermuda] Limited [Brit Re] [Bermuda]. The outlook of these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Brit Re’s balance sheet strength, which AM Best assesses... Read more of this article
Mosaic Insurance Partners With Safe Security
Mosaic Insurance has launched a pioneering platform powered by California-based Safe Security to help underwriters evaluate cyber risk for brokers and insureds. A spokesperson said, “Mosaic leverages Safe Security’s award-winning cyber risk assessment platform, SAFE, which offers a real-time view of the extent and nature of a company’s enterprise-wide... Read more of this article
