ILS specialist Horseshoe hires BDA’s DeSilva
Horseshoe Insurance Services has added Jasmine DeSilva as senior vice president, ILS strategic initiatives and business development.
Ariel Re enters ILS market with $150mn Titania Re cat bond
Ariel Re announced that it has sponsored its first 144A index-triggered catastrophe bond, issued by Bermuda special purpose insurer Titania Re Ltd.
Lockton Re confirms Aon’s Davies as Bermuda CEO
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.
Miller takes Peak Capital co-CEO Manning to head ILS unit in Bermuda
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 hires Elementum’s Sweeney
AlphaCat has recruited underwriting executive Ed Sweeney from rival ILS fund manager Elementum Advisors in Bermuda, The Insurer can reveal.
Bermuda responds to G7 tax deal by stating right to sovereignty must be respected
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”.
Weston linked with Sompo role after Aon Bermuda exit
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.
Garside promoted to CUO of Liberty Specialty Markets Bermuda
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 partners with Argo on wage and hour product
Ed Broking has partnered with Argo Group to launch a digital wage and hour liability product through its Bermudian arm.
Aspen Capital Markets adds Bernina Re’s von Reitzenstein as portfolio manager
Aspen has strengthened its newly formed Capital Markets platform with the hire of Bermuda-based Andy von Reitzenstein as a portfolio manager.
Vantage continues insurance build-out and bolsters Bermuda operation
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 reinsurers’ share of ceded US mortgage market tops 50%
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 upgraded to A+ by S&P on core importance to AIG
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.
Cloutier: new Aspen branding represents “what we do and who we are”
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 hires new Chilean leadership team from Aon; Bardon joins in Bermuda
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 on strong growth trajectory as NA build-out bears fruit
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.
Leadenhall backs new A rated Bermuda reinsurer Nectaris Re
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.
Bermudians boosted by underlying CR improvements in Q1
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.
Doucette to leave Everest Re with Williamson stepping in as reinsurance head
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.
Vantage enters ILS market with $225m Vista Re cat bond
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.