Convex lands Theo Butt to lead insurance business; Paskin named Convex Re CEO
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 looks to expand sidecar and Bermuda reinsurance platform for 1.1
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.
Boylan to launch casualty MGA in Bermuda with Third Point Re paper
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 hit by 100mph winds as Paulette passes directly over island
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.
Paulette set to track close to Bermuda as hurricane
Tropical Storm Paulette is on course to impact Bermuda as a hurricane late this weekend.
Accelerant aims to launch Bermuda Class 3 insurer
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.
Aeolus mulls rated reinsurance/retro platform for 2021
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.
BMA names Gakundi director within insurance unit
The Bermuda Monetary Authority (BMA) has appointed Gerald Gakundi to the position of director of supervision within the insurance unit.
Brit moves Bermuda casualty book to US; Brit Re head Bonanno exits
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 turns to AmTrust for replacement CFO
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.
Total return reinsurers head down different paths
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.
Harrington Re fields interest from potential buyers including legacy platforms
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.
Everest hires Allied World’s Hoffmann as risk and ceded reinsurance head
Mike Hoffmann has joined Everest Insurance from Allied World in the newly-created role of head of risk and ceded reinsurance.
Darag makes senior NA hires as launches in Atlanta
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’ operating income soars in second quarter
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 points to business mix shift for Q2 CR improvement
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.
AJG’s Artex builds out Bermuda operation with Wood hire
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 share price rises on MI outperformance
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 buys more low-down protection after non-renewing Northshore Re cat bond
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.
Reinsurance pricing momentum will continue even in light storm season: RenRe
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.