Horseshoe Insurance Services has added Jasmine DeSilva as senior vice president, ILS strategic initiatives and business development.
Ariel Re announced that it has sponsored its first 144A index-triggered catastrophe bond, issued by Bermuda special purpose insurer Titania Re Ltd.
Expansive reinsurance intermediary Lockton Re has confirmed the hire of Aon’s Jonathan ‘Jonty’ Davies as CEO of its recently launched Bermuda office, Lockton Re (Bermuda) Limited, a move first reported by this publication last year.
Wholesaler Miller has named Erik Manning as head of ILS as the intermediary accelerates the build-out of its Bermuda platform under Charlie Simpson.
AlphaCat has recruited underwriting executive Ed Sweeney from rival ILS fund manager Elementum Advisors in Bermuda, The Insurer can reveal.
The G7’s historic agreement of a minimum global tax rate has potentially large implications for Bermuda, with the island’s finance minister hitting back by stating that any agreed framework “must respect a country’s right to sovereignty in relation to its tax system”.
Neville Weston has resigned from Aon’s Reinsurance Solutions business less than two years after joining as vice chairman of its Bermuda platform and is expected to make a move to Sompo International, The Insurer can reveal.
Liberty Specialty Markets Bermuda (LSM Bermuda) has appointed Nicholas Garside to the newly created role of chief underwriting officer, with the executive having previously led its property unit.
Ed Broking has partnered with Argo Group to launch a digital wage and hour liability product through its Bermudian arm.
Aspen has strengthened its newly formed Capital Markets platform with the hire of Bermuda-based Andy von Reitzenstein as a portfolio manager.
Vantage Risk is progressing with the build-out of its Jack Kuhn-led insurance operation with a host of new hires from rivals including Arch, Aspen and Axa XL, while the start-up has also added to its Bermuda-based platform.
Bermuda’s market share of the reinsurance market for US private mortgage insurers has now risen above 50 percent, according to the Association of Bermuda Insurers & Reinsurers (ABIR).
Validus Re has been given a significant boost with the upgrade of its issuer credit (ICR) and financial strength ratings (FSR) from A to A+ by S&P as the agency said it expects AIG’s P&C reinsurance operations will become an increasingly important part of the group’s strategy.
Bermudian (re)insurer Aspen has unveiled new branding that the company said emphasises its mission to bring “clarity from complexity” and which executive chairman and group CEO Mark Cloutier said represents “what we do and who we are today”.
Price Forbes has made a double hire from Aon to lead its Chilean reinsurance operations as well as adding to its Bermuda team with the hire of retro specialist Nicolas Bardon.
Ascot’s US and Bermudian platforms are on course to pass $1bn in combined premium volume this year, as the group sees opportunities for further organic expansion as well as targeted inorganic moves in areas where it can accelerate its entry, according to group president Jonathan Zaffino.
ILS fund manager Leadenhall Capital Partners is backing a new Bermuda reinsurer to provide an alternative rated platform for its clients while also reducing the structural problems associated with trapped collateral.
Bermuda felt the weight of elevated US catastrophe losses during the first quarter of 2021 but underlying combined ratios saw improvements on the back of continued rate increases, mirroring the trend seen among Europe’s major reinsurers.
John Doucette is leaving Everest Re to “pursue other opportunities”, with current executive vice president and COO Jim Williamson taking over as the head of the Bermudian’s reinsurance division with immediate effect.
Recent start-up Vantage Risk has sponsored its first 144A index-triggered catastrophe bond transaction Vista Re, which will provide the carrier with multi-year risk transfer capacity of $225mn to protect against named storm and earthquake risk in the US.