Bermuda, Hamilton

The Insurer comment: Bermuda bellwether for market again


For a small island some 800 miles off the Carolinas, Bermuda has punched above its weight to carve out a position as a key (re)insurance center over the last 35 years.

Tony Ursano – NYIF 2019

Ursano appointment signals more deals at Hamilton


Tony Ursano’s return to the market as Hamilton Insurance Group CFO after his recent TigerRisk exit may from the outside look a little left field. But the appointment of a deal maker suggests the Bermudian may not be done with M&A after its transformative Pembroke and Ironshore Europe transaction.

Q2 Earnings

Analysts mixed on positive US pricing thesis as Q2 earnings begin


Although the second quarter P&C earnings season that got underway in the US today will include the impact of weather losses and positive marks on investment portfolios, the focus of investors is likely to be on pricing momentum.

Ken Randall – R&Q

R&Q provides legacy reinsurance for a Bermuda domiciled captive


London-listed legacy and programme specialist R&Q has issued loss portfolio transfer reinsurance for a US-based airline via its wholly owned A- admitted carrier, Accredited Surety and Casualty Company.

Kyle Adams – Everest Re

Everest adds JLT’s Adams for new Bermuda insurance operation


Everest Insurance has hired former JLT executive Kyle Adams to head up its new Bermuda insurance platform.

Maiden Holdings

Maiden targets return to operating profitability after $22mn Q2 loss


Maiden Holdings has reported a second quarter loss, while revealing further details of its strategic actions.

Hamilton, Bermuda

Tysers opens Bermuda office


London market wholesale broker Tysers has launched a hub in Bermuda – Tyser (Bermuda) Ltd  – with Richard Tomkins to lead the operation on the island as managing director.

Hamilton, Bermuda

AWAC Bermuda excess liability team set to join Ascot


A Bermuda-based team of Allied World excess liability underwriters led by Patrick Kenahan that recently left the carrier is set to join Ascot on the island, The Insurer can reveal.

Mark Watson Argo

Argo board backs exec pay and governance changes


Argo shareholders will get to vote on proposals next year to begin the declassification of the Bermudian’s board of directors and reduce its maximum size from 13 to 11.

Ken Randall – R&Q

R&Q provides legacy reinsurance for a Bermuda domiciled captive


London-listed legacy and programme specialist R&Q has issued loss portfolio transfer reinsurance via its wholly owned A- admitted carrier, Accredited Surety and Casualty Company.

Sirius Q2 results

Jebi creep hits Sirius results in Q2


Sirius International Insurance Group fell to a second quarter operating loss of $19mn as the Bermudian’s underwriting results were hit by loss creep on its property reinsurance book.

Darag Bermuda

SOBC Darag launches Bermuda hub with four-strong team from rival


Legacy specialist SOBC Darag has launched a hub in Bermuda with four hires from rival R&Q as it looks to expand operations in the US and Bermuda.

Marc Gradisson – Arch

Increased E&S property demand has traction: Arch’s Grandisson


Arch Capital’s CEO compared property casualty market conditions to a holiday with children on the Bermudian (re)insurer’s earnings call.

Albert Benchimol – Axis

Axis beats in Q2 as reinsurance business balloons


Bermudian carrier Axis beat the expectations of 11 analysts surveyed by MarketWatch to deliver an operating income of $137mn in the second quarter – or $1.62 per diluted common share – outstripping Wall Street estimates of $1.34 a share.


PartnerRe grows non-life net premiums 15% in Q2


PartnerRe has reported 15 percent growth in non-life net premiums in the second quarter to $1.45bn, driven by a 24 percent increase in the P&C segment to $849mn.

Mark Watson Argo

Argo reveals $32.5mn hit driven by casualty reserve charge and Q2 cats


Bermudian (re)insurer Argo Group International Holdings has warned its upcoming earnings will be impacted by $22.5mn of adverse development from prior year accident year losses primarily in its Bermuda casualty business and $10mn of net losses from Q2 2019 catastrophes.

RenRe Q2 results

RenRe beats big and reveals $700mn+ third party capital raise


RenaissanceRe delivered a strong Q2 earnings beat in its first full quarter of reporting to include Tokio Millennium Re (TMR) results following the close of the deal to buy its smaller rival in March this year.

Andrew Hughes – Hiscox

Hiscox promotes Hughes to lead ILS business as Lowther departs


Hiscox has appointed Andrew Hughes to the role of managing principal, Hiscox ILS.

Richard Lowther

Lowther to leave Hiscox Re ILS


Richard Lowther, managing principal at Hiscox Re Insurance Linked Strategies, is to leave the company.

Pina Albo

ABIR elects Hamilton’s Albo deputy chair


The Association of Bermuda Insurers and Reinsurers (ABIR) has elected Hamilton Insurance CEO Pina Albo as deputy chair, filling the unexpired term of Validus Re CEO Kean Driscoll, while Convex has been added a member company.