Hashtag: #BermudaInsurance
Fitch: Bermuda Reinsurers To Remain Resilient
“Profitability will remain under pressure for Bermuda reinsurers following a trying 2017, though the collective strength of the sector should remain largely intact according to Fitch Ratings’ latest peer review of the sector,” Fitch Ratings said. “Bermuda reinsurers suffered significant catastrophe losses last year due largely to... Read more of this article
White Mountains Tender Preliminary Results
White Mountains Insurance Group announced the preliminary results of its “modified Dutch auction” tender offer to purchase up to 500,000 shares. The tender offer expired at midnight, New York City time, at the end of the day on May 7th. “Based on a preliminary count by the depositary for the tender offer, 585,467 shares were properly... Read more of this article
Fitch: ‘Blockchain A Potential Game Changer’
Fitch Ratings views blockchain as a “potential game-changing technology for the insurance industry over the long term,” with the ratings agency adding that “the uncertainties around this nascent technology remain pronounced.” Fitch said, “Fitch Ratings views blockchain as a potential game-changing technology for the insurance industry... Read more of this article
Column: Insurtech, Demystifying The Hype
[Opinion column written by Chris Garrod] I work in the reinsurance world. Wait don’t leave. Specifically, I work in the legal sector, and for whatever reason, it always feels like conference and/or event season. And I’ve been to a number of insurance and reinsurance related events/conferences lately. And every single one has had one panel [some... Read more of this article
Mayoral And Media Meetings At RIMS In Texas
Innovation, resilience and Bermuda’s value to global economies were key themes for discussion as Bermuda met with insurance media and San Antonio Mayor Ron Nirenberg. Premier and Finance Minister David Burt, along with a delegation of representatives from the Bermuda Monetary Authority [BMA], insurance industry, and the Bermuda Business Development... Read more of this article
A.M. Best Upgrades Ratings Of Nissan Global
A.M. Best has upgraded the Financial Strength Rating to A from A- and the Long-Term Issuer Credit Rating to “a” from “a-” of Bermuda-based Nissan Global Reinsurance. A statement from the ratings agency said, “The ratings reflect NGRe’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance,... Read more of this article
Bermuda Business Forums To Be Held In Canada
A 14-strong delegation of industry representatives will head to Canada next month to promote the corporate benefits of setting up a captive insurance company in Bermuda. Led by the Bermuda Business Development Agency [BDA], the roadshow includes half-day executive forums in British Columbia and Ontario—in Vancouver on May 15 and Toronto on May 17—as... Read more of this article
$144 Billion In Insured Losses Worldwide In 2017
The insured losses from natural and man-made disasters worldwide in 2017 were $144 billion – the highest ever recorded in a single year. This is according to Swiss Re which said, “At USD 144 billion, the insured losses from natural and man-made disasters worldwide in 2017 were the highest ever recorded in a single year. “The main... Read more of this article
115 Visitors To Attend Healthcare Forum
Specialist insurance buyers for major hospital systems, long-term care facilities, physicians groups, and health benefits and services providers in North America come to the island this month for the second Bermuda Healthcare Forum. “A total of 206 delegates, including 115 overseas guests, have registered to attend the event, taking place April... Read more of this article
Bermuda Insurance Experts To Speak At Rims
Bermuda’s global insurance expertise will get the spotlight in a special executive forum hosted by the Bermuda Business Development Agency [BDA] during this month’s RIMS Annual Conference & Exhibition in San Antonio, Texas. The Bermuda Executive Forum, organised in partnership with the Bermuda Captive Conference, will see two panels of senior... Read more of this article
ABIR To Mark Anniversary With Leaders Forum
A special half-day forum bringing together distinguished past leaders with current chief executives of Bermuda’s global insurance market will be held to mark the 25th anniversary of the Association of Bermuda Insurers and Reinsurers [ABIR] this summer. “The quarter-century milestone event, slated for the afternoon of July 10 at Rosewood Bermuda,... Read more of this article
White Mountains To Acquire NSM Majority Stake
White Mountains Insurance Group has entered into an agreement to acquire a majority equity stake in NSM Insurance Group [NSM], a leading specialty insurance program administrator. “The transaction values NSM at approximately $388 million. White Mountains intends to fund the acquisition through a combination of cash on hand and new debt issued... Read more of this article
