Convex has hired former Neon CEO Theo Butt as CEO of London-based Convex Insurance UK Limited with Matt Paskin named CEO of Bermuda-based Convex Re CEO.
Ascot is set to fundraise for its Canro Re sidecar vehicle and selectively expand its Bermudian reinsurance operations for what it sees as attractive underwriting opportunities, The ReInsurer can reveal.
Former Markel, Alterra and XL veteran John Boylan is closing in on the launch of a Bermuda-based MGA focusing on US excess casualty and professional liability business supported by paper from Third Point Re, The Insurer can reveal.
Bermuda experienced the calm in between the storms earlier today as Hurricane Paulette’s eye encircled the entire island, before giving way to some of the strongest winds experienced by Bermudians in recent years.
Tropical Storm Paulette is on course to impact Bermuda as a hurricane late this weekend.
Start-up Accelerant is looking to create a Bermuda insurance company to add to the Malta-based carrier it already has in place as it continues its strategy of retaining up to 20 percent of business written by the MGA members on its platform, The Insurer can reveal.
ILS fund manager Aeolus Capital Management is believed to be considering the creation of a rated vehicle to write property reinsurance and retro and add to the growing suite of products it makes available to brokers and clients on a collateralized basis, The Insurer can reveal.
The Bermuda Monetary Authority (BMA) has appointed Gerald Gakundi to the position of director of supervision within the insurance unit.
Fairfax-owned Brit has parted ways with Joe Bonanno – who has led its Bermuda operations since 2013 – as it transfers its casualty book written on the island to the US, The Insurer can reveal.
Enstar has hired Zachary Wolf from AmTrust as the replacement for its outgoing CFO Guy Bowker who will leave the firm at the end of February next year.
News that Harrington Re is fielding interest from potential buyers that are understood to include legacy players is the latest example of a potential change of direction among the class of total return reinsurers that emerged between 2012 and 2016.
Axis Capital and Blackstone-sponsored total return reinsurer Harrington Re has been the subject of interest from potential acquirers thought to include live-to-legacy platforms, The Insurer can reveal.
Mike Hoffmann has joined Everest Insurance from Allied World in the newly-created role of head of risk and ceded reinsurance.
Darag has continued its build out in North America as it launches an Atlanta-based operation making senior hires to lead the unit.
White Mountains has posted $132.7mn of operating income for the second quarter of 2020, with its specialty insurance distribution division enjoying a 15.1 percent increase in revenues compared with the prior year period.
Third Point Re has reported a combined ratio that improved by 2.8 points year on year and an underwriting profit of $2.4mn in the second quarter, with the reinsurer continuing to see the benefits from its drive to shift its business mix.
Arthur J Gallagher’s captive and alternative risk transfer subsidiary Artex Risk Solutions has continued its Bermuda build-out with the hire of William Wood.
Arch Capital management have provided a rosier outlook for its mortgage insurance (MI) business than in the previous quarter, with investors responding favourably to the Bermudian (re)insurer’s Q2 results.
Axis Capital decided to buy more limit low down after non-renewing the $350mn Northshore Re II Series 2017-1 cat bond that matured this year as it also moved to reduce its PMLs at the lower end of the curve.
RenaissanceRe further trimmed its Florida book at 1 June and reduced its Southeast US exposure as it aims its bulked up balance sheet at the key 1 January renewals, with CEO Kevin O’Donnell expecting reinsurance pricing momentum to continue even if landfalling storm activity is quiet.