Aspen’s mammoth $3.57bn ground-up loss portfolio transfer (LPT) deal with Enstar has completed with the legacy specialist assuming $3.12bn of the Bermudian (re)insurer’s net loss reserves relating to 2019 and prior years.
PartnerRe posted big increases in both its top and bottom line in Q1 2022 while its non-life combined ratio improved 12 points year on year as the company faced a lower level of large losses during the period.
SiriusPoint chairman and CEO Sid Sankaran has resigned from the company “to pursue other opportunities” with former Third Point Re head Dan Malloy succeeding him as chief executive on an interim basis.
Cyber reinsurance and analytics firm Envelop Risk has received regulatory approval to establish Augmented Re, a Class 3A reinsurer in Bermuda.
Lloyd’s insurer Apollo has received approval from the Bermuda Monetary Authority (BMA) for its recently established Bermudian subsidiary, Apollo Bermuda Limited.
Former Everest Re reinsurance CEO John Doucette is set to reunite with industry veteran and Max Re founder Bob Cooney as they explore plans to re-emerge with a reinsurance start-up that is expected to target a circa $1bn capital raise, The Insurer can reveal.
Bermuda-based BF&M Limited has announced the appointment of Bruce Walker as group chief financial officer.
Axis Capital has told employees that it has no plans to sell its reinsurance business, after it is understood to have ended a short process to explore a potential divestment that showed limited appetite for a stand-alone reinsurance division at a price the Bermudian would find acceptable, The Insurer can ...
SiriusPoint improved its consolidated combined ratio by 2.8 points to 93.7 percent in the first quarter, despite 1 point of catastrophe losses and 4 points of Russia-Ukraine losses, while management highlighted a more even split between insurance and reinsurance on execution of a strategic shift towards its insurance and services ...
Argo Group International Holdings ended Q1 2022 with a comfortable earnings beat as its operating income increased 180 percent and its combined ratio improved 8.8 points, while the carrier revealed it has agreed a loss portfolio transfer (LPT) for Syndicate 1200’s reserves for the 2018 and 2019 Years of Account.
The Association of Bermuda Insurers and Reinsurers (ABIR) will participate in the International Forum of Terrorism Risk Pools (IFTRIP) annual conference next month.
Bids in the two-week sales process for Axis Capital’s reinsurance division are due on Friday, for a possible deal that will lay bare investor appetite for a standalone, pure-play reinsurance outfit, The Insurer can reveal.
Everest Re ended 2022’s first quarter with net operating income that increased 56 percent year on year to $405.8mn and a combined ratio that fell 6.5 points to 91.6 percent in part due to lower catastrophe losses in results that were comfortably ahead of analysts’ consensus estimate.
Arch reported a narrow earnings beat for the first quarter, in results that included a 12 point improvement in the combined ratio despite $85.8mn of current accident year catastrophic losses including amounts associated with Russia’s invasion of Ukraine.
The Association of Bermuda Insurers and Reinsurers (ABIR) has said it strongly opposes a proposal by S&P Global Ratings to disallow senior debt as a form of available capital, calling the rating agency’s draft plan “disruptive” and an “overuse of market power”.
The Bermuda Monetary Authority (BMA) has appointed Shanna Lespere as its new permanent deputy CEO, effective immediately.
The Bermuda Monetary Authority (BMA) has called for all Bermuda-registered (re)insurers to disclose their exposure to the ongoing conflict in Ukraine and the economic sanctions being levied on Russia.
There has been another senior management change at Hiscox Re & ILS with international chair Daniel Vestergren set to leave the business, The Insurer understands.
Legacy specialist Catalina reported consolidated net income of $177mn for the year ended 31 December 2021, with the Bermuda-headquartered firm confirming that it hopes to secure a Lloyd’s platform in 2022.
Bermuda-based (re)insurance investment advisor ILS Capital Management has changed its name to Resolute Global Partners, which it said reflects the growth of strategic partners and new business lines in the past few years.