News relating to the Bermuda and international insurance and reinsurance industry.
The insurance-linked securities (ILS) market on Bermuda is playing an increasingly important role on the Island, David Burt, Premier of Bermuda, told delegates at the beginning of the second and final day of the Convergence 2017 conference, organised by ILS Bermuda.
Bermuda-based P&C re/insurer Hamilton Insurance Group has appointed Pina Albo as its new chief executive officer.
“It’s been an extraordinary journey and we at the Bermuda Development Agency (BDA) are very proud to have played our part in this journey,” said Ross Webber, chief executive officer of the BDA, told delegates at the start of the second day of the Convergence 2017 conference.
The property/casualty run-off market can be seen as an attractive insurance exposed investment opportunity, according to a panel of run-off experts at a session at Convergence 2017, the annual insurance-linked securities (ILS) conference being held on Bermuda.
The historic four elements of earth, air, fire and water all hit the world of insurance and insurance-linked securities (ILS) in 2017, according to Greg Wojciechowski, president and CEO of the Bermuda Stock Exchange (BSX) and also chair of ILS Bermuda.
Blue Capital Reinsurance Holdings expects catastrophe losses of $57.7 million in the third quarter of 2017, driven by the three major hurricanes which made landfall and the two earthquake in Mexico.
Horseshoe Group, an insurance manager and fund administrator dedicated to both ILS and the alternative fund markets, has promoted Yulanda Francis to the position of president of Horseshoe Re.
After receiving clearance from all applicable regulators - including the European Commission - AXIS Capital has completed its acquisition of Novae Group.
Specialty re/insurer Argo expects a pre-tax catastrophe loss of $85-110 million in the third quarter of 2017, of which approximately $35-45 million relate to Ariel Re, acquired in the first quarter.
Private equity firm Apollo Global Management has signed a definitive agreement to acquires a majority shareholding in Catalina Holdings, a Bermuda-based run-off firm.