Hashtag: #BermudaInsurance
Column: Bermuda Is Legitimate Business Centre
[Opinion column written by Larry Burchall] Hillary Clinton’s promise to go after “High-income money managers…[who]..use loopholes related to foreign reinsurance – often located in Bermuda – to avoid paying their fair share.. [of US taxes]” and saying that she would “end the Bermuda reinsurance loophole” is a serious statement from a... Read more of this article
BFIS Holds Christmas Speed Networking Lunch
On December 30, BFIS held its Christmas Speed Networking lunch which was well attended by approximately 50 students and insurance industry professionals. The 6 minute ‘speed interviews’ session continued at a rapid pace for almost an hour, followed by general networking over a sandwich lunch for a further hour. “Undergraduates and recent graduates... Read more of this article
Brian Duperreault: ‘We’re Living In A Digital Age’
Earlier today [Dec 17], Hamilton Insurance Group CEO Brian Duperreault delivered the keynote address at EY/Insurance Insider’s Global Re/Insurance Outlook conference at the Hamilton Princess Hotel. Describing the industry as being between two worlds – the analog and the digital – Mr. Duperreault said the sector could be facing “the... Read more of this article
BFIS Reports That Foundation Is In “Good Order”
At the Bermuda Foundation For Insurance Studies [BFIS] AGM yesterday [Dec 16], Chairman Gail Martin reported that BFIS had had another successful year of programmes aimed at helping Bermuda’s students gain the education and knowledge needed to enter the insurance industry. Mrs. Martin said, “I am very pleased to report that the Foundation is in... Read more of this article
Aspen Reinsurance Renews Silverton For 2016
Aspen Reinsurance [Aspen Re], the reinsurance segment of Aspen Insurance Holdings Limited [Aspen], announces that its Aspen Capital Markets division renewed Silverton Re Ltd. [Silverton Re] for 2016. Silverton Re, a Bermuda-domiciled special purpose insurer, was established in December 2013 to provide additional collateralized capacity to support Aspen... Read more of this article
Fidelis Launch London Underwriting Operation
Fidelis Insurance has received PRA approval for the launch of its UK business, which will begin underwriting with immediate effect. The London based subsidiary, which has received an A.M. Best rating of A- [Excellent], will be led by Dan Burrows as UK Chief Executive Officer. Mr Burrows is joined by Nick Burkinshaw, Chairman of Specialty and Richard... Read more of this article
Qatar Re Gets Approval To Domicile In Bermuda
Qatar Reinsurance Company Ltd has completed the process of re-domiciling to Bermuda, and has been granted a Class 4 licence from the Bermuda Monetary Authority [BMA], following all regulatory approvals, effective today [Dec 3]. “As part of the re-domiciling Qatar Re’s capitalisation will increase to approximately USD 500 million. The company... Read more of this article
Minister Bob Richards: “It’s A Huge Win For Us”
“It’s a huge win for us and a stamp of approval for our industry,” Finance Minister Bob Richards said following the news that the European Commission has found Bermuda fully equivalent under the European Union’s Solvency II regulatory and supervisory system. Asked to explain why it’s so important, the Minister told Bernews:... Read more of this article
Business Groups Praise Solvency II Decision
Insurance and business associations from the European Union, the United Kingdom and Bermuda have praised the European Commission’s action to find Bermuda and the Bermuda Monetary Authority [BMA] as fully equivalent for all regulatory purposes under the European Union’s Solvency II regulatory and supervisory system for insurers which takes effect... Read more of this article
Cox: “This Is Significant News For Bermuda”
The Bermuda Monetary Authority said they are “pleased with the publication of the European Commission’s [EC] Delegated Act which recognises Bermuda’s prudential framework for [re]insurance and group supervision as being fully equivalent to regulatory standards applied to European reinsurance companies and insurance groups in accordance with... Read more of this article
Law: UK Reforms Raise Questions For Bermuda
[Written by Martyn Naylor] The UK’s financial sector is often in the media nowadays, and rarely for the right reasons. There sometimes seems to be a rule amongst journalists that the word ‘banking’ must be followed by ‘scandal’. Yet there is one extremely important part of that sector which has [for the last few years at least] kept itself... Read more of this article
Tianjin Explosions To Cost Insurers Almost $2B
The explosions in Tianjin, China will cost insurers across Europe, the U.S., Bermuda and Asia almost $2 billion, according to Bloomberg. The Bloomberg story said “Insurer Talanx AG’s $122 million loss from port explosions at Tianjin, one of China’s worst industrial disasters, takes the net hit incurred by insurers across Europe, the U.S.,... Read more of this article
