Hashtag: #BermudaInsurance
Arch Insurance Appoints Matthew Smith
Arch Insurance [Bermuda] announced the appointment of Matthew Smith as Managing Director, with effect from 1 January 2024 following the retirement of Tony Hay. A spokesperson said, “In this role, Smith will be responsible for managing all aspects of Arch Insurance [Bermuda]’s direct insurance operations. He will report to Mike Lay, Chief Underwriting... Read more of this article
ABIR MOU With Association of British Insurers
The Association of Bermuda Insurers and Reinsurers [ABIR] and the Association of British Insurers [ABI] have agreed to work together on matters of mutual interest detailed in a Memorandum of Understanding [MoU]. A spokesperson said, “The agreement will build on the working partnership that exists between the Bermuda and UK markets, two leading... Read more of this article
ABIR@30 Lunch Forum Speakers Announced
The Association of Bermuda Insurers and Reinsurers [ABIR] will celebrate three decades of leadership and partnership at the ABIR@30 Lunch Forum on Tuesday, September 26. A spokesperson said, “ABIR announces a special leadership panel will present including Lloyd’s of London Fiona Luck; ABIR Chair & Hamilton CEO Pina Albo; Axis Capital Albert... Read more of this article
PwC On Larger Non-Life Legacy Deal Sizes
“The global non-life run-off market remains active, with US $9.4bn of estimated gross reserves transacted across 37 publicly announced deals in the 12 month period to the end of the first half of 2023,” PwC said. A spokesperson said, “Compared to the same period in the prior year, there is an almost identical total deal value [US $9.3bn... Read more of this article
Dive In Announces Ninth Consecutive Festival
Dive In, the insurance industry’s renowned festival for diversity, equity, and inclusion [DE&I], announced its ninth consecutive festival, taking place next week from the 26 to September 28, 2023, and registration is now open. A spokesperson said, “This year’s festival will revolve around the theme ‘Unlocking Innovation:... Read more of this article
Freisenbruch To Reopen Office Tomorrow
Freisenbruch Insurance Services announced that their office will close at 12.00pm today [Sept 14] and is scheduled to reopen at 1.00pm on Friday [Sept 15], contingent on when the EMO announces that it is safe to travel on the roads again. A spokesperson said, “As we prepare for the impacts of Hurricane Lee, we remain mindful of our obligations... Read more of this article
Government Announce Early Pension Payments
The Department of Social Insurance advised that “as a precautionary measure, pension benefit payments ordinarily made by direct deposit on September 15th, will be processed today, earlier than usual, due to any disruption due to Hurricane Lee.” A Government spokesperson said, “For those receiving pension cheques, they have been printed... Read more of this article
Marsh Appoints Michelle Sivanayson, Tanja Korff
Michelle Sivanayson has relocated to Bermuda from Canada to take on the role of Islands Practice Leader and Tanja Korff has been named Bermuda Client Services Leader role, Marsh announced today. A spokesperson said, “Marsh, the world’s leading insurance broker and risk adviser, announced today two Bermuda-based leadership appointments within... Read more of this article
Strong Attendance For 11th BILTIR Conference
The Bermuda International Long Term Insurers and Reinsurers [BILTIR] announced an “excellent attendance of 300 delegates across its 11th annual Bermuda International Life & Annuity Conference and supporting events.” A spokesperson said, “Held at Pier 6 in Hamilton, Bermuda the successful event featured a gathering of industry leaders... Read more of this article
Mosaic Builds Underwriting Talent Across Canada
Mosaic Insurance has built out its team of underwriting specialists to provide global capacity in five lines of business to brokers and clients across Canada. A spokesperson said, “The global firm opened an office in Toronto, Ontario last July, and since then, has expanded coast to coast in the Canadian specialty insurance market across five highly-relevant... Read more of this article
ABIR Releases 2022 Global Underwriting Results
Member companies of the Association of Bermuda Insurers and Reinsurers [ABIR] recorded a strong 13% year-over-year increase in premium written in 2022. A spokesperson said, “ABIR’s global underwriting report, released today, comprises data from 24 of 30 member re/insurers for the calendar year 2022. The group generated gross written premium... Read more of this article
ABIR Executives Meet With European Official
The Association of Bermuda Insurers and Reinsurers [ABIR] Executives, CEO John M. Huff and Director of Policy and Regulation Suzanne Williams-Charles, along with ABIR’s European advisors, recently met with European Commissioner Director Martin Merlin in his Brussels’ offices at the European Commission. A spokesperson said, “The meeting was held... Read more of this article
Reinsurers Name Climate Change As Top Risk
Reinsurers globally identify climate change as the biggest risk they face, PwC said. A spokesperson said, “The 2023 edition of the Reinsurance Banana Skins Survey, carried out by PwC and the Centre for the Study of Financial Innovation [CSFI], reveals reinsurers’ views on the most urgent risks they face. The survey was launched at the annual... Read more of this article
Hamilton Announces Proposed IPO Submission
Hamilton Insurance Group, Ltd. today announced “that it has submitted, on a confidential basis, a draft registration statement on Form S-1 with the US Securities and Exchange Commission [SEC], relating to a proposed underwritten initial public offering of its common shares.” A spokesperson said, “The initial public offering is subject... Read more of this article
Mosaic’s Syndication Program Originates $250M
Mosaic’s syndicated capital program has underwritten close to a quarter of a billion dollars in gross written premium [GWP] for industry partners across its seven product lines and regions. A spokesperson said, “The program, activated early last year, has originated nearly USD$250 million in GWP for more than 20 syndication trade partners. Among... Read more of this article
AM Best Affirms Credit Ratings Of Rembrandt
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” [Excellent] of Rembrandt Insurance Company, Ltd. [Rembrandt] [Bermuda], a captive [re]insurer of Vitol Holding B.V. a group engaged in the trading of energy-related products. A spokesperson said, “The ratings reflect Rembrandt’s... Read more of this article
