Arnott joins Acrisure Re in Bermuda
Expansive reinsurance intermediary Acrisure Re has hired Simon Arnott as senior vice president in its Bermuda operations, The Insurer understands.
RenRe CR spikes to 145.1% as $727mn of cat losses bite
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 hires Allen as head of financial lines in Bermuda
Oneglobal Bermuda has appointed Christina Allen as head of financial lines.
Howden swoops for Lancashire’s CM head Darren Redhead to lead new Bermuda reinsurance unit
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.
Howden acquires Bermuda-based Foram
Expansive London-headquartered Howden has acquired independent (re)insurance broker Foram in Hamilton, Bermuda.
Ark Bermuda adds marine and specialty head Paul Manders as Validus Re migration completes
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 names Clifford CEO designate
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.
Fitch warns Bermuda’s benefits to reduce on global tax change
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 hires Gallagher Re’s Bousfield as senior broker
Lockton Re has appointed Patrick Bousfield as a senior broker within its Bermuda office.
Ed continues Bermuda expansion with Juul hire
Ed Broking has continued to build out its operations in Bermuda with the appointment of Kristina Juul as head of casualty.
NAIC leaders to discuss climate protection gap during Bermuda visit
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 to open Bermuda office with Vacher as CEO
McGill and Partners is to launch a Bermuda operation with Kate Vacher appointed CEO of the new office.
Everest in $1bn debt issue to support long-term strategic objectives
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”.
Roosevelt Road Re hires ex-Argenta underwriter King and former Brit Re CUO Bonanno
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.
Bullish about Bermuda
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.
Coralisle to buy Barbados-based insurer Massy United for $90.5mn
Bermuda-based regional insurer Coralisle Group has announced the acquisition of Barbados-sited Massy United Insurance for $90.5mn.
Fortitude Re to acquire Prudential legacy variable annuities book in $2.2bn deal
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.
Envelop Risk secures $130mn in SoftBank-led investment first
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 finally lands Validus Re big beasts Clements and Silvester
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.
Former Axa XL property specialist Kempe confirms Vantage switch
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.