Hashtag: #BermudaInsurance
White Mountains Group To Sell Sirius To CMI
White Mountains Insurance Group, Ltd. [WTM] has signed a definitive agreement to sell Sirius International Insurance Group, Ltd.[Sirius] to CM International Holding PTE Ltd., the Singapore-based investment arm of China Minsheng Investment Corp., Ltd. [CMI]. The purchase price will be paid in cash in an amount equal to 127.3% of Sirius’s closing... Read more of this article
BFIS Provides $445,000 In Scholarship Awards
On Monday July 20th, the Bermuda Foundation For Insurance Studies [BFIS] awarded $445,000 in scholarship funding to 12 students focused on careers in Bermuda’s insurance sector. This brings the total amount of funding that the Foundation has given out since it was formed in 1996 to $5.5 million – all funded by the insurance industry. BFIS 2015... Read more of this article
Xuber’s White Paper Reveals Executive Insights
Xuber, Xchanging’s insurance software business which delivers solutions to the commercial insurance and reinsurance marketplace, recently gathered a group of executives on the island to talk about market conditions, innovation, technological change and analytics. Faced with a raft of challenges such as third-party capital, soft market conditions and... Read more of this article
Bermuda-Based Chinese Insurer Signs Deal
A Bermuda-based Chinese insurance company is poised to launch an innovative risk-industry product under a deal signed in Hamilton this month. A signing ceremony, held earlier this month at the Hamilton Princess hotel to formally mark the new venture, was attended by Chinese and Bermuda companies, Bermuda’s regulator, and the Bermuda Business Development... Read more of this article
Bermuda Convergence To Be Held In November
The Bermuda Convergence 2015 will be held November 11–13, at Pier 6 in Hamilton, Bermuda. The newly expanded steering committee of ILS Bermuda Ltd. has been busy planning the event which is expected to attract more than 300 delegates from around the world. Last November, the Bermuda Convergence 2014 event was hailed a major success, drawing more than... Read more of this article
A.M. Best Affirms Ratings Of MS Frontier
Rating company A.M. Best has affirmed the financial strength rating of A [Excellent] and the issuer credit rating of “a+” of MS Frontier Reinsurance Limited [MS Frontier] [Hamilton, Bermuda]. The outlook for both ratings is stable. MS Frontier is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Limited [MSI], which is a subsidiary... Read more of this article
Bermuda Registers 45 New Insurers In First Half
The Bermuda Monetary Authority registered 45 new insurers and intermediaries during the first half of the year [H1 2015]. This is on par with the 44 registrations recorded during the same period the previous year. In the commercial reinsurance sector, three new Class 4 reinsurers capitalised at a minimum of $100 million each were formed, as well as... Read more of this article
BFIS & Drinker Biddle To Host Forum On July 16
The Bermuda Foundation for Insurance Studies [BFIS] and Drinker Biddle are hosting a forum titled, Driving Innovation: Why Insurers Are Establishing Corporate Venture Programs. The event will take place on Thursday, July 16 from 5:00 – 6:00 p.m. at the Fairmont Hamilton Princess. A cocktail reception will follow the presentation. This is the fourth... Read more of this article
WiRe Bermuda Launch Website, Social Media
Women in Reinsurance [WiRe], a Bermuda association for women working in the reinsurance industry, have launched a dedicated website, blog and LinkedIn group. “The launch of our social media presence represents the next stage in WiRe’s growth. Our goal is to make it easier to communicate with our members and provide valuable information about... Read more of this article
Aon Pledges $30K For BFIS Mentor Programme
The Aon Group has renewed its sponsorship of the BFIS Mentor Networking Programme with a pledge of $30,000. Paul Markey, Chairman of the Board of Trustees of the Aon Rhondelle Tankard Memorial Fund, said, “We are proud to continue our support of this BFIS programme which can make a difference to the careers of so many of Bermuda’s high-school and... Read more of this article
A.M. Best Affirms Ratings Of IGI Bermuda
Insurance and reinsurance rating agency A.M. Best has affirmed the financial strength rating of A- [Excellent] and the issuer credit rating [ICR] “a-” of International General Insurance Company Limited [IGI] [Bermuda] and International General Insurance Company [UK] Limited [IGI UK] [United Kingdom]. A.M. Best, which released the rating on Thursday,... Read more of this article
G7 Leaders Endorse African Risk Capacity Model
G7 leaders have singled out African Risk Capacity [ARC] as a model upon which to develop catastrophe insurance solutions in vulnerable regions. ARC Ltd was formed in late 2013 as the financial affiliate of ARC and is registered in Bermuda as a mutual insurer. The entity issued its first insurance policies on 1 May 2014. During the 41st G7 summit in... Read more of this article
