Hashtag: #BermudaInsurance
RenRe Estimate 2021 Q3 Net Negative Impact
RenaissanceRe Holdings announced it estimates that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the Company’s third quarter 2021 results of operations. This estimate is primarily comprised of net negative impacts of approximately $440 million from Hurricane Ida in August 2021 and... Read more of this article
ABIR Welcomes NAIC Leaders To Bermuda
The Association of Bermuda Insurers and Reinsurers [ABIR] will welcome the leadership of the National Association of Insurance Commissioners [NAIC] to Bermuda this week “to participate in a live webinar discussion of international reinsurance and climate risk.” A spokesperson said, “The Association of Bermuda Insurers and Reinsurers... Read more of this article
RMS Estimate $1.1–$2.2B Losses From Nicholas
RMS estimates that the total U.S. insured losses from Hurricane Nicholas will be between US$1.1 and US$2.2 billion, and with the island being home to many of the world’s top re/insurers it is expected some will be paying claims, A spokesperson said, “RMS, the world’s leading catastrophe risk solutions company, estimates that the total U.S. insured... Read more of this article
BILTIR Board: Scotland Courcy & Sooboodoo
Bermuda International Long Term Insurers and Reinsurers [BILTIR] announced that Board member Natasha Scotland Courcy is their new Vice-Chair, and that Andrew Sooboodoo has joined the Board. The Board appointments were confirmed at BILTIR’s annual 2021 Bermuda International Life and Annuity Conference, which was held as a virtual event on September... Read more of this article
Mosaic Expands Global Cyber Offering
Mosaic Insurance has expanded its cybersecurity business line internationally, with the addition of new team members to its UK-based unit. A spokesperson said, “The specialty insurer began underwriting global cyber coverage from Chicago April 1, just two months after launching with headquarters in Bermuda, a new Lloyd’s syndicate, 1609, and a network... Read more of this article
Dive In Bermuda Events Kick Off Tomorrow
The 7th annual Dive In 2021 kicks off tomorrow [Sept 21], and runs until Thursday [Sept 23]. A spokesperson said, “Dive In is the insurance industry’s longstanding Festival promoting diversity and inclusion. This year’s Festival will take place virtually again as a result of the Pandemic. “Bermuda will host five events over the three day... Read more of this article
Francesca Gino To Address BILTIR Conference
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that Professor Francesca Gino of Harvard Business School will be the keynote speaker at their 2021 annual conference. A spokesperson said, “Professor Gino is an expert on the psychology of organisations and author of Rebel Talent: Why it Pays to Break the Rules in Work... Read more of this article
North End Re Becomes 63rd BILTIR Member
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that North End Re has joined the organisation. A spokesperson said, “Bermuda International Long Term Insurers and Reinsurers [BILTIR] has announced that North End Re has joined the organisation. “North End Re, a subsidiary of Brookfield Asset Management Reinsurance Partners... Read more of this article
Reinsurers Paid $35.2 Billion To UK Policyholders
From 2016 to 2020, Bermuda [re]insurers paid out US$35.2 billion to UK policyholders and cedants for large catastrophes, property and casualty losses and life insurance claims, the Bermuda Monetary Authority [BMA] said. A spokesperson said, “The Bermuda Monetary Authority [Authority or BMA] completed its United Kingdom [UK] Data Claim Survey in June... Read more of this article
ABIR Welcomes Lockton Re As A New Member
The Association of Bermuda Insurers and Reinsurers [ABIR] has welcomed Lockton Re, the reinsurance arm of the world’s largest independent insurance broker, as a new member. A spokesperson said, “Lockton Re has joined ABIR’s Broker Advisory Cabinet, a body that allows for collaborative efforts among Bermuda’s leading re/insurers and brokers... Read more of this article
$25–$35B Insured Losses From Hurricane Ida
RMS estimates onshore and offshore U.S. insured losses from Hurricane Ida in the Gulf of Mexico to be between $25 billion and $35 billion, and with the island being home to many of the world’s leading re/insurers, Bermuda domiciled companies can be expected to pay out many of the claims. The company said, “RMS, the world’s leading catastrophe... Read more of this article
Aspen Declares Dividends On Preference Shares
Aspen Insurance Holdings Limited announced that the Board of Directors has declared the following dividends on its Preference Shares: Quarterly dividend of $0.3719 per share on its 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares with a $25 liquidation preference per share; Quarterly dividend of $0.3516 per share on its 5.625%... Read more of this article
