Hashtag: #BermudaInsurance
Everest Group Signs UN Sustainable Principles
Everest Re Group has become an official signatory of the UN Principles for Sustainable Insurance [PSI], a “global framework for a sustainable insurance industry developed through partnership between risk management leaders and the United Nations Environment Programme Finance Initiative.” A spokesperson said, “The company is one of 12... Read more of this article
Roosevelt Road Re Appoints Darren Bailey
Roosevelt Road Re has announced the appointment of Darren Bailey as Director of ILS and Capital Markets. A spokesperson said, “Bermuda-headquartered reinsurer Roosevelt Road has added Darren Bailey to the fast-growing reinsurance firm. “Bailey steps into the Director of ILS and Capital Markets role with immediate effect, having departed in June... Read more of this article
SFG Bermuda And Martello Re Join BILTIR
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that Martello Re Limited and SFG Bermuda Ltd have joined the association, bringing the number of member companies to a record high of 64. Martello Re was licensed in Bermuda to support the future growth of MassMutual, which intends to cede $14 billion of liabilities and future... Read more of this article
SiriusPoint Invests In Honeycomb Company
SiriusPoint has invested in Honeycomb, “a disruptive US ‘people-focused, tech-driven’ multi-family home insurer.” A spokesperson said, “SiriusPoint Ltd., a global insurer and reinsurer, has invested in Honeycomb, a commercial real estate insurance company that uses technology to help owners of multi-family properties find better... Read more of this article
Fitch: Underwriting Profitability “Should Return”
“Bermuda [re]insurers should return to underwriting profitability in 2022, as combined ratio improvement and continued premium rate increases more than offset increased catastrophic losses,” according to Fitch Ratings. A statement from the ratings agency said, “Fitch expects pricing to continue to rise but at a declining rate for [re]insurers... Read more of this article
Hamilton Insurance Group Appoints David Friston
Hamilton Insurance Group announced the launch of Financial Lines Insurance at Hamilton Re, Ltd., the company’s Bermuda-based insurance and reinsurance operating subsidiary, with the appointment of David Friston as Senior Vice President, Head of Financial Lines Insurance. Reporting to Tim Duffin, Chief Underwriting Officer, Hamilton Re, Ltd., Friston... Read more of this article
TLB Honoured By Industry Peers At Benchmark
Transamerica Life [Bermuda] Ltd [TLB] recently won the Outstanding Responsible Insurer award and Best-in-Class – Universal Life Product award at the Benchmark Wealth Management Awards 2021 in Hong Kong. A spokesperson said, “Transamerica Life [Bermuda] Ltd. [TLB], a leading high net worth life insurance provider, once again received industry... Read more of this article
Over 160 People Register For Insurance Course
The Association of Bermuda Insurers and Reinsurers [ABIR] announced today that more than 160 people have registered so far for the foundational insurance course offered by the partnership with Bermuda College and New York’s St. John’s University. A spokesperson said, “The second year of the online course launches Monday evening, January 17,... Read more of this article
New Reinsurer Martello Re Limited Launched
Martello Re Limited [Martello Re], a licensed Class E Bermuda-based life and annuity reinsurance company with initial equity of $1.65 billion, has been launched. A spokesperson said, “Martello Re Limited a licensed Class E Bermuda-based life and annuity reinsurance company with initial equity of $1.65 billion, has been launched with the financial... Read more of this article
Fortitude Re Enhances Reinsurance Capabilities
Fortitude Re announced today the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. A spokesperson added, “In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Company Ltd. [FRL], Bermuda’s largest multi-line reinsurer, obtained approval to operate as a Reciprocal Jurisdiction Reinsurer, the first... Read more of this article
Monument Re Complete Acquisition From Athora
Monument Re’s Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc. A spokesperson said, “Monument Re announced today that its Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities... Read more of this article
Monument Re & AXA Belgium Transfer
Monument Re and AXA Belgium have agreed for the transfer of a run-off life insurance portfolio with BEGAAP provisions of EUR2.6bn, subject to regulatory approvals. Koen Depaemelaere, CEO of Monument Assurance Belgium, said: “We are pleased to announce this transaction that confirms Monument Assurance’s position as the leading consolidator in the... Read more of this article
