Hashtag: #BermudaInsurance
Re/insurers Ready To Support Storm Recovery
The “Bermuda [re]insurance industry stand ready to support Americans in the aftermath of Hurricane Ida,” the Bermuda Business Development Agency [BDA] said. A spokesperson said, “The Bermuda Business Development Agency and the greater Bermuda [re]insurance industry stand ready to support Americans in the aftermath of Hurricane Ida,... Read more of this article
Registration For Dive In Festival Opens
Registration for the Dive In Festival is now open via diveinfestival.com, with the event to take place from September 21 – 23. A spokesperson said, “Registration for Dive In, the insurance industry’s longstanding Festival promoting diversity and inclusion, is open via diveinfestival.com. The Festival is taking place from 21 – 23 September,... Read more of this article
BILTIR Becomes Supporter Of UNEP PSI
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has become a supporter of the Principles for Sustainable Insurance [PSI], part of the United Nations’ Environment Programme [UNEP]. Launched in 2012, the UNEP PSI is a global framework for the insurance industry to address environmental, social and governance [ESG] issues and opportunities. BILTIR... Read more of this article
$6B-$7.7B Insured Losses From Europe Flooding
RMS estimates that insured losses from the Western and Central Europe flooding that occurred in July 2021 will be between $6 billion and $7.7 billion. With Bermuda being home to many of the world’s top re/insurers, it is expected some of the Bermuda companies will be paying claims. The company said, “RMS, the world’s leading catastrophe... Read more of this article
Re/insurers Paid $209.6B To US Policyholders
Bermuda [re]insurers paid out US$209.6 billion to United States policyholders and cedants for large catastrophes, property and casualty losses and life insurance claims during the five-year period from 2016 to 2020, according to commercial market claims data collected by the Bermuda Monetary Authority [BMA] in June 2021. “By contrast, the BMA’s... Read more of this article
Mosaic & DXC Launch New Insurance Platform
Mosaic Insurance and DXC Technology have announced the launch of a new insurance technology platform “that increases the speed at which specialty insurance is sold, underwritten and serviced.” A spokesperson said, “Mosaic Insurance and DXC Technology today announced the successful launch of an innovative new insurance technology platform... Read more of this article
$29.3 Billion Paid To EU Customers Since 2016
Bermuda [re]insurers paid out US$29.3 billion to European Union [EU] policyholders and cedants for property and casualty losses and life insurance claims during the five-year period from 2016 to 2020, the Bermuda Monetary Authority said today. The BMA said, “This is according to commercial market claims data collected by the Bermuda Monetary Authority... Read more of this article
Lombard Becomes 62nd Member Of BILTIR
Bermuda International Long Term Insurers and Reinsurers [BILTIR] announced that Lombard International Life Ltd, part of Lombard International Group, has joined the association. A spokesperson said, “Lombard International Life Ltd becomes the 62nd company to join BILTIR, which represents the island’s insurance, reinsurance and servicing companies... Read more of this article
Video: BDA Holds Bermuda Angle Webinar
The Bermuda Business Development Agency [BDA] held its first Bermuda Angle Webinar on July 21, with the webinar discussing “how Bermuda is set to become the world’s climate risk finance capital.” A spokesperson said, “The Bermuda Business Development Agency’s first Bermuda Angle Webinar is now available on the BDA’s YouTube channel. “Top... Read more of this article
Africa Specialty Risks Launch Bermuda Reinsurer
Africa Specialty Risks [ASR], the pan-African focused reinsurance group, announced that it has launched a licensed reinsurance entity in Bermuda. “The Group will offer a full suite of products from its Bermudan reinsurer, including Political Risk & Trade Credit, Political Violence & Terrorism, Property, Energy, Liability, Construction and... Read more of this article
BMA: $2.7B Shows Key Role Bermuda Plays
Bermuda [re]insurers have estimated that they will incur gross claim losses of US$2.7 billion as payments to United States policyholders/cedants to cover the damaging effects of Winter Storm Uri, which wreaked havoc in the southern region of the US, particularly Texas. This is according to commercial market claims data collected by the Bermuda Monetary... Read more of this article
ABIR Welcomes Kace Wales As Intern
Bermuda College student Kace Wales has joined the Association of Bermuda Insurers and Reinsurers [ABIR] as an intern. A spokesperson said, “The 17-year-old from Sandys is studying on the Associate of Arts [Business Administration] programme at Bermuda College and aspires to a career in the insurance industry. He studied for his International Baccalaureate... Read more of this article
