All Bermuda articles

  • J. Daniel Plants
    News

    Argo and Voce agree on two board nominees

    2020-02-19T23:15:00Z

    Argo has announced two board nominations jointly agreed with Voce Capital Management under the truce revealed last month as the activist investor also praised the Bermudian’s chairman elect Tom Bradley and new CEO Kevin Rehnberg for their role in the process.

  • Lancashire share price
    News

    Lancashire shares climb after strong FY results

    2020-02-13T09:31:00Z

    Shares in Lancashire Holdings were up 3.4 percent in early trading – having earlier climbed by 6 percent – as investors reacted to an impressive set of FY results, with profit before tax of $120mn “substantially stronger” than the consensus of $76mn, according to Nick Johnson of Numis.

  • Southeast wind single event PMLs
    Analysis

    Axis slashes PMLs and increases use of third party capital

    2020-02-13T00:59:00Z

    Axis Capital has significantly cut its probable maximum loss (PML) for peak cat exposures and made increasing use of its growing third party capital platform as part of a wider repositioning of its portfolio to deliver stronger and more stable underwriting results.

  • Arch share price
    News

    Arch expected to trade up as Q4 results beat

    2020-02-12T07:50:00Z

    Shares in Arch Capital Group are expected to trade up on Wednesday after the Bermudian carrier reported a consensus beating fourth quarter net operating income per share of $0.74, significantly lower catastrophe losses in its P C operations and a circa 25 percent jump in insurance GWP.

  • Arch Insurance Q4 results
    News

    Arch operating profits up 63% in Q4

    2020-02-11T23:29:00Z

    Arch Capital Group has reported a 63 percent increase in fourth quarter operating profits to $308.4mn, aided by significantly lower cats in its P C operations and a solid contribution from its mortgage insurance business.

  • Bermuda 0311
    News

    ILS executive Scherer to leave Aon Bermuda

    2020-02-11T18:26:00Z

    Aon’s Bermuda-based insurance linked securities (ILS) expert Chuck Scherer is leaving the company and heading back to the US, The Insurer has learned.

  • Argo
    News

    Argo confirms McFate as Watson’s replacement on board

    2020-02-07T21:35:00Z

    Argo Group International Holdings has confirmed Carol McFate to its board following a truce agreed with activist investor Voce Capital Management last month.

  • Hamilton, Bermuda
    News

    ILS Capital’s Prospero Re restructures to write traditional reinsurance

    2020-02-07T21:18:00Z

    Bermudian reinsurer Prospero Re has secured a financial strength rating from Kroll Bond Rating Agency as the ILS Capital Management subsidiary shifts its operating model to include traditional reinsurance.

  • evan greenberg chubb
    News

    Chubb shares rise over 7% as Greenberg downplays loss trends

    2020-02-05T18:10:00Z

    Chubb chairman and CEO Evan Greenberg has dismissed D O loss trends as “an old story”, while providing detailed feedback on the price increases the insurance giant is obtaining.

  • Florida and japan renewals
    News

    Several Floridians close to exhausting Irma cat covers: RenRe

    2020-02-05T17:16:00Z

    A number of Florida domestic carriers are now close to exhausting their 2017 private market cat covers after further significant creep on Hurricane Irma losses, according to RenaissanceRe CEO Kevin O’Donnell.

  • Multistrat Group
    Opinion

    Chasing tail

    2020-02-05T12:56:00Z

    Casualty has for a long time been identified as the next frontier for the ILS market.

  • Renaissance Re Q4 reults
    News

    RenRe reveals $925mn third party capital raise but misses in Hagibis-hit Q4 results

    2020-02-05T00:01:00Z

    RenaissanceRe reported operating earnings per share that fell short of Wall Street forecasts in a fourth quarter that included a $193.3mn hit from Typhoon Hagibis and aggregate loss contracts written by the Bermudian reinsurer.

  • Dan Burrows – Fidelis
    News

    Fidelis names Burrows group MD and Burford UK CEO

    2020-02-04T09:38:00Z

    Bermudian Fidelis has promoted founder member Daniel Burrows to group managing director and named Ian Burford CEO for the carrier’s UK operations, Fidelis Underwriting Limited (FUL).

  • IGI
    News

    IGI gets Bermuda green light for Tiberius deal

    2020-01-31T04:28:00Z

    Dubai-based International Group Insurance Holdings (IGI) has been approved by the Bermuda Monetary Authority for its previously announced merger with special purpose acquisition company Tiberius Acquisition (TIBR).

  • Andy Kudera – Aspen
    News

    Aspen adds former Validus exec Kudera as new chief actuary

    2020-01-30T10:14:00Z

    Aspen has brought in industry veteran Andy Kudera as its new group chief actuary with the former Validus and Endurance executive set to join the Bermudian (re)insurer in early February.

  • Arch
    News

    Arch promotes Rajendra to chief strategy and innovation role

    2020-01-21T22:49:00Z

    Arch Capital Group has promoted chief analytics officer Jay Rajendra to chief strategy and innovation officer, The Insurer has learned.

  • Axis logo
    Opinion

    Axis won’t be alone in pointing to messy Q4

    2020-01-21T18:17:00Z

    There have been several earnings preannouncements in recent weeks, but Axis Capital’s revelation that it is expecting “modest operating income” because of cat and other Q4 losses felt like the first profits warning of the season.

  • Cyber security
    News

    Gemini launches crypto captive with Aon and Marsh support

    2020-01-17T16:04:00Z

    Gemini has launched a Bermudian captive insurer to cover its cryptocurrency exchange platform up to a limit of $200mn, with Aon acting as the captive manager and Marsh placing the captive’s excess reinsurance into the commercial market.

  • Ascot retro 1.1 renewals
    News

    Ascot grows retro book at 1.1 with new sidecar

    2020-01-15T12:40:00Z

    Ascot significantly expanded its traditional ultimate net loss (UNL) retro book in an attractive pricing environment at 1.1 as it utilized excess capital at group level as well as its new third-party capital quota share vehicle, The Insurer can reveal.

  • Colin Kelley – Ed
    News

    Sompo International’s Kelley to lead Ed Bermuda liability launch

    2020-01-15T11:59:00Z

    Ed Broking’s recently established Bermuda unit has appointed Colin Kelley as head of liability on the island, with a mandate to lead the broker’s professional lines, casualty and healthcare teams.