Hashtag: #BermudaInsurance
BF&M Reports Six Month Earnings Of $11.4M
BF&M Limited today [Sept 14] reported shareholders’ net income for the six month period ended 30th June 2015 of $11.4 million, resulting in an annualized return on shareholders’ equity of 9.8%. Shareholders’ net income for the comparative six month period of 2014 was $17.5 million. President & CEO John Wight [pictured] said, “Financial... Read more of this article
Sequant Re Appoints Victor Baillargeon
Sequant Re, a Bermuda-based reinsurance company, has appointed Mr. Victor Baillargeon as Chief Underwriting Officer. “A seasoned practitioner with over 35 years of underwriting experience and a respected leader within the global reinsurance community, Mr. Baillargeon will lead the development of Sequant Re’s underwriting strategies that will... Read more of this article
Video: A.M. Best TV On Reinsurance Market
In the latest episode of A.M.BestTV, A.M. Best Vice President Robert DeRose discusses a Best’s Special Report on the global reinsurance industry. In A.M. Best’s annual global reinsurance special report, it states that the reinsurance market is quickly evolving. “One factor that has greatly influenced the market over the past five years has... Read more of this article
A.M. Best Affirms BF&M Group’s Ratings
BF&M Limited announced that rating agency A.M. Best had affirmed the following financial strength ratings for BF&M Group’s four principal operating companies: BF&M General Insurance Company Limited A [Excellent] Bermuda BF&M Life Insurance Company Limited A [Excellent] Bermuda Island Heritage Insurance Company Ltd. A [Excellent] Cayman Insurance... Read more of this article
Events To Highlight Importance Of Life Insurance
Colonial Insurance is holding a series of events to highlight the importance of life insurance. September is earmarked in North America as Life Insurance Awareness Month in order to show how it can help a business, the family and even in succession planning. Sheldon Maybury, a Life Insurance Consultant at Colonial Life Assurance, said the law mandated... Read more of this article
“Understanding Your Insurance Coverage”
In partnership with the Health Insurance Department and MoonGate Insurance, Age Concern Bermuda is hosting “Understanding Your Insurance Coverage”, an information session for Age Concern members on Tuesday, September 1, from 1:00 pm – 3:00 pm at Charities House, 25 Point Finger Road, Paget. “The session will include information on... Read more of this article
ABIR On Louisiana Insurance Commissioner
In commemoration of the 10-year anniversary of Hurricane Katrina, the Louisiana Department of Insurance and Insurance Commissioner James Donelon issued a report, “State of Insurance, 10 Years Post-Katrina,” showcasing improvements made to the Louisiana home insurance market over the last decade. The report highlights the creation of a statewide... Read more of this article
Bermuda Re: Island’s Female Senior Executives
ABIR’s Senior Vice President, Deputy Director and Corporate Secretary Leila Medeiros was named one of 38 influential women in Bermuda by trade magazine Bermuda:Re+ILS; along with 15 other female executives at ABIR member companies. The magazine’s special edition highlights Bermuda female executives, mostly in the commercial insurance and reinsurance... Read more of this article
Explosion Insurance Losses Could Be $1.5B
The insured losses from a series of explosions at a chemical warehouse in Tianjin on 12 August are “likely to be material” for Chinese insurance companies, potentially exceeding $1 – 1.5 billion, said Fitch Ratings, as the “high insurance penetration rate in this area could make the blasts one of the most costly catastrophe claims... Read more of this article
Fitch: Potential For Further Market Consolidation
Unutilized capital and the threat of alternative reinsurance providers, combined with slowing premium growth and sagging investment yields, increase the potential for further market consolidation of Bermuda based [re]insurers, Fitch Ratings said. Fitch has outlined its views in a recent report examining a universe of 20 Bermuda-domiciled underwriters’... Read more of this article
OneBeacon Insurance Exits Crop Business
OneBeacon Insurance Group has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services, Inc. [AmTrust]. The company’s existing crop insurance business has been transferred to AmTrust, including policyholder servicing. OneBeacon President and CEO Mike... Read more of this article
WTM Adjusted Book Value Per Share Of $671
Bermuda-domiciled White Mountains Insurance Group, Ltd. [WTM] reported an adjusted book value per share of $671 at June 30, 2015, up 1.1% for both the second quarter and first six months of 2015, including dividends. Ray Barrette, Chairman and CEO, commented, “It was a solid quarter. Sirius Group reported a 78% combined ratio continuing... Read more of this article
