Elaine Scully – Hamilton

Hamilton Re adds former Axa XL Dublin casualty head Scully


Former Axa XL Dublin excess casualty head Elaine Scully is to relocate to Bermuda to lead Hamilton Re’s casualty insurance operations on the island. 

Canopius – Bermuda

Canopius launches Class 4 Bermuda platform


Lloyd’s insurer Canopius has been given the green light to scale up its Bermuda operations to a Class 4 reinsurer.

Kevin O’Donnell – RenaissanceRe

RenRe commits to being “positive force for change” as it unveils new ESG strategy


RenaissanceRe is the latest industry heavyweight to unveil a specific ESG strategy with CEO Kevin O’Donnell committing the reinsurer to be “a positive force for change” while supporting an agenda focused on climate resilience, promoting diversity, equity and inclusion and closing the protection gap.


BSX’s 253 ILS listings in 2020 sets new record


The Bermuda Stock Exchange (BSX) had 253 ILS listings in 2020, up 63 percent from the 155 in 2019, with a combined nominal value of $15.77bn.

Marc Grandisson – Arch

Arch CEO Grandisson begins two-year term as ABIR chair


The Association of Bermuda Insurers and Reinsurers (ABIR) has welcomed Arch Capital Group’s CEO Marc Grandisson as its new chair, with Hamilton Insurance Group’s CEO Pina Albo appointed deputy chair and AIG Re CEO Christopher Schaper as second deputy chair.

Ark – Bermuda

AM Best assigns Ark’s Bermuda platform A rating


Ark’s scaled-up White Mountains-backed Class 4 Bermudian platform has today officially received its A (Excellent) financial strength-rating from rating agency AM Best.

Tom Libassi – ILS Capital Management

Prospero Re’s ratings unchanged after shift in business model: KBRA


Prospero Re’s revised business plan, which will see the ILS Capital subsidiary begin writing traditional rated reinsurance, will not lead to any amendments to the platform’s insurance financial strength rating of A, Kroll Bond Rating Agency (KBRA) has confirmed.

OCIL and AM Best

OCIL gets A- AM Best rating for new specialty platform


Oil Casualty Insurance (OCIL) has secured an A- financial strength rating and “a-” long-term issuer credit rating for the new Bermudian specialty carrier it is launching to write excess liability business in a move first revealed by The Insurer.


Miami International Holdings acquires Bermuda Stock Exchange


Miami International Holdings (MIH) has acquired 100 percent ownership of the Bermuda Stock Exchange (BSX).


Axis adds Bermuda professional lines underwriter from XL


Axis Insurance has hired Angus Lynn as vice president and professional lines underwriter in its Bermuda office, with the new addition joining from XL Bermuda.


Casualty exec Soria linked with Conduit Re after Sirius departure


Sirius Group’s casualty and professional liability-focused underwriting executive Erik Soria has resigned from the Bermudian and has been linked with a move to start-up reinsurer Conduit Re, The Insurer can reveal.

Bermuda, Flag

777 Re completes two new reinsurance transactions


Bermuda-based reinsurer 777 Re has completed two reinsurance transactions with US-based insurance companies.


Zeller and Greetham step down from Axis board


Former Hannover Re chief Willie Zeller and former XL Capital and OIL Insurance executive Chris Greetham will both stand down from the board of Bermudian (re)insurer Axis Capital at year-end.

Eckert Carvey Conduit

AM Best confirms newly launched Conduit’s A- FSR


Conduit Re has had it’s A- financial strength rating (FSR) confirmed by AM Best, with the agency citing the newly launched reinsurer’s “very strong” balance sheet strength and its “well-defined business plans” for its decision.

Conduit Re and Vantage – Bermuda

Conduit Re’s Bermuda-only strategy serves as reminder of island’s start-up appeal


Bermuda’s attractiveness as a global reinsurance hub has been underscored by the initial location choices among Class of 2020 start-ups, with the likes of Conduit Re and Vantage Risk selecting the mid-Atlantic island as home for their core reinsurance platforms.

Greg Hendrick – Vantage

$1bn Vantage already writing reinsurance in Bermuda for 1.1 renewals


Vantage has already received submissions and begun authorising participation on 1 January reinsurance renewals via its A- rated Bermuda platform, but will take a patient approach to its insurance build-out as it addresses what it believes to be a sustainable hard market opportunity.


RenRe’s long-serving Weinstein to leave at year end


RenaissanceRe’s group general counsel, corporate secretary and chief compliance officer Steve Weinstein will leave the company at the end of this year in a departure which will bring to an end his close-to 20-year association with the company.

Conduit Re

Conduit Re targets $472mn GWP in 2021 as it pursues mid-teens ROE


Conduit Re expects to underwrite between 50 and 80 reinsurance policies ahead of 1 January related to risks incepting at the renewal, the Neil Eckert and Trevor Carvey-led $1.1bn start-up has revealed in the investor prospectus for its IPO earlier this week.

Tom Libassi – ILS Capital Management

ILS Capital’s Prospero Re gets BMA approval to write traditional reinsurance


ILS Capital has received sign-off from the Bermuda Monetary Authority (BMA) for its Prospero Re platform to begin writing both traditional and collateralised reinsurance business.


AmWINS to acquire Bermuda broker ISBL


Wholesale giant AmWINS is to acquire International Specialty Brokers Limited (ISBL), a Bermuda-based P&C wholesale insurance and reinsurance broker.