Hashtag: #BermudaInsurance
PwC: Insurance CEOs Optimistic About Growth
While insurance continues to be one of the most disrupted sectors in the global economy and insurance CEOs are more concerned about the pace of technological change than CEOs in any other industry, more than 90% of insurance CEOs are confident about their own organisation’s revenue prospects over the next three years. This year 100 insurance CEOs... Read more of this article
Artificial Intelligence & Insurance In The Future
[Updated] The IRM Bermuda Group will be hosting ‘Artificial Intelligence and Insurance: A Glimpse of the Future’. “Data has always been at the heart of the insurance industry. What has changed in our current reality to create massive disruption is the amount of data generated daily and the speed at which machines can process the info and uncover... Read more of this article
ABIR Hosts UGA Students For Annual Program
The Association of Bermuda Insurers and Reinsurers [ABIR] hosted the University of Georgia [UGA] students on March 13th for a 2-hour primer on how Bermuda has become one of the world’s most important reinsurance centers over the last 25 years. “Helping connect Bermuda to the next generation of insurance industry professionals carries our risk innovation... Read more of this article
Argo Group Announces Acquisition Of Ariscom
Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, today [March 13] announced it has acquired Italian specialty insurer Ariscom. Effective immediately, Matt Harris, head of ArgoGlobal’s European and Asian operations, will assume the role of Ariscom Managing Director. “Ariscom provides... Read more of this article
Students Join UGA Bermuda Market Study Group
The Bermuda Foundation For Insurance Studies [BFIS] has again been invited to participate with the University of Georgia [UGA] students in their Bermuda Insurance Market Study Group. This is an annual teaching and training exercise of the top-ranked Risk Management and Insurance Programme at the University of Georgia’s Terry College of Business led... Read more of this article
AlphaCat, Terra Brasis Complete ILS Transaction
AlphaCat Managers Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. and Terra Brasis Resseguros S.A., announced the successful completion of a $5 million private catastrophe bond transaction. The bond issue, named Alpha Terra Validus II, effectively renews the 2017 Terra Brasis Validus I transaction which represented a unique offering of Latin... Read more of this article
‘Figures Reaffirm Status As World’s Risk Capital’
Bermuda’s insurance industry has registered a year-on-year increase in company registrations across multiple sectors, driving all-important job growth on the island, the BDA said. Bermuda registered a total of 58 new insurers in 2017, ranging from captives and long-term re/insurers to special purpose insurers [SPIs]—compared to 42 last year, according... Read more of this article
90 Students Participate In Speed Networking
Ninety students are participating in the BFIS High School Speed Networking Lunches this week to help them gain a clearer understanding of the wide variety of careers within the insurance sector from insurance professionals representing many different careers, educational backgrounds and skill sets. A BFIS spokesperson said, “Since 2014 BFIS has... Read more of this article
Malcolm Butterfield Appointed As CEO Of BII
Malcolm Butterfield has been appointed the new Chief Executive Officer of the Bermuda Insurance Institute. “Mr. Butterfield brings extensive insurance and reinsurance experience to the BII, having held the office of Registrar of Companies for five years, and serving 19 years as managing partner leading the Advisory Practice at KPMG,” BII... Read more of this article
Barbican Launches New Bermuda Operation
Barbican Insurance Group announced the launch of Barbican Bermuda, a new underwriting operation located in Bermuda. “The company will focus on the US property market and will write exclusively on behalf of Barbican Syndicate 1955,” the company said. “Barbican Bermuda will underwrite a direct and facultative portfolio of business on... Read more of this article
AM Best Upgrades Somerset Re ICR Ratings
A.M. Best has upgraded the Long-Term Issuer Credit Rating [Long-Term ICR] to “bbb+” from “bbb” and affirmed the Financial Strength Rating [FSR] of B++ [Good] of Somerset Reinsurance, and the outlook of these Credit Ratings is stable. A statement from the ratings agency said, “The ratings reflect Somerset Re’s balance sheet strength, which... Read more of this article
Fitch: ‘Benefit To Be Reduced, Not Eliminated’
The changes to the U.S. tax system will “significantly reduce the long-standing tax advantage of Bermudian re/insurers,” Fitch said, adding that they expect the overall benefit of a Bermuda domicile “to be reduced, but not eliminated, with the island largely maintaining its established position in the global market” due to its... Read more of this article
