Expansive reinsurance intermediary Acrisure Re has hired Simon Arnott as senior vice president in its Bermuda operations, The Insurer understands.
RenaissanceRe’s combined ratio climbed to 145.1 percent in 2021’s third quarter as the reinsurer fell to an operating loss of $414.5mn as events including Hurricane Ida and the northwestern Europe flooding generated net losses of $726.8mn that were largely preannounced.
Oneglobal Bermuda has appointed Christina Allen as head of financial lines.
Howden has swooped on London-listed carrier Lancashire for the CEO of its third-party capital management division Darren Redhead, as the intermediary gears up to launch a treaty and capital markets unit in Bermuda, The Insurer understands.
Expansive London-headquartered Howden has acquired independent (re)insurance broker Foram in Hamilton, Bermuda.
Expansive Lloyd’s-Bermuda (re)insurer Ark has added Paul Manders – formerly head of marine and specialty at Validus Re – to its growing island operations ahead of the 1 January renewals, The Insurer can reveal.
Bermuda’s BF&M Limited has appointed Abigail Clifford as president, group chief operating officer and CEO designate with immediate effect in a move that the company said is the culmination of several years of succession planning.
Bermuda’s advantageous tax status for the (re)insurance industry will be reduced at the margin with the expected passage of an Organisation for Economic Cooperation and Development (OECD) multilateral agreement to establish a 15 percent global minimum tax rate, Fitch Ratings has commented.
Lockton Re has appointed Patrick Bousfield as a senior broker within its Bermuda office.
Ed Broking has continued to build out its operations in Bermuda with the appointment of Kristina Juul as head of casualty.
The Association of Bermuda Insurers and Reinsurers will welcome the leadership of the National Association of Insurance Commissioners to Bermuda this week, with the visitors set to meet ABIR members and take part in a live webinar discussion on international reinsurance and climate risk.
McGill and Partners is to launch a Bermuda operation with Kate Vacher appointed CEO of the new office.
Everest Re has priced an offering of $1bn of senior notes which the Bermudian reinsurer said will be used for general corporate purposes “in line with the company’s long-term strategic objectives”.
Ex-Argenta senior underwriter Duncan King and former Brit Re CUO Joe Bonanno are joining Roosevelt Road Re Ltd – a growth-focused Class 3A Bermuda reinsurer whose CEO also heads Tradesman Program Managers, a New York-based MGA in which Randall & Quilter holds a stake.
In March this year, The Insurer was fortunate enough to visit Bermuda – the (re)insurance industry’s island in the sun. While the rest of the world was beginning to wake up from its Covid-19 slumber, this bustling little island in the Atlantic Ocean was full of life and optimism.
Bermuda-based regional insurer Coralisle Group has announced the acquisition of Barbados-sited Massy United Insurance for $90.5mn.
Fortitude Re has agreed a $2.2bn deal to acquire a portion of Prudential Financial’s in-force legacy variable annuity block as the run-off specialist continues to build out its market footprint.
SoftBank has led a Series B investment of up to $130mn in Envelop Risk in what is thought to be the first direct investment in the P&C specialty/reinsurance space by the world’s largest tech investor and will see the UK-Bermuda cyber reinsurance MGA and modelling firm establish a hybrid balance ...
Ark Bermuda’s new CEO and chief underwriting officer Jeff Clements and head of property reinsurance Chris Silvester officially joined the business late last week after a year spent in the garden following their exit from Validus Re, The Insurer can reveal.
Axa XL’s former head of US property, London reinsurance Megan Kempe has joined Bermudian start-up Vantage Risk, confirming a move first reported by The Insurer back in May.