News relating to the Bermuda and international insurance and reinsurance industry.
North Carolina attracts 26 new captives in 2019
The North Carolina Department of Insurance (NCDOI) licensed 26 new captive insurers and approved 61 new cells in 2019, according to figures published in its 2019 end-of-year report for its captive insurance program.
Xceedance acquires US-based insurtech provider
Xceedance, the Bermuda-based insurance consultancy and technology company, has acquired the US technology vendor, Activer Solutions.
AXIS warns Q4 results will be impacted by cat losses
AXIS Capital Holdings has warned investors to expect “modest” profits when it announces its Q4 2019 results later this month.
CEOs downbeat on prospects for growth in 2020
The mood among global CEOs has reached a low ebb, with more than half (53 percent) of them expecting the rate of economic growth to decline in 2020, according to PwC’s 23rd Annual Global CEO Survey.
Everest Re names replacement for retiring MD in Continental Europe
Artur Klinger will join Everest Re Group’s reinsurance division later this year as managing director of Continental Europe, succeeding Stephan Knipper who is set to retire.
Hamilton appoints head of property reinsurance in the US
Hamilton Insurance Group has appointed Brad Sforza senior vice president and head of property reinsurance for its new US reinsurance platform.
Bermuda declared a top-tier jurisdiction for AML
Bermuda’s regulatory regime is among the most effective in the world for combating money laundering and the financing of terrorism and proliferation, according to a mutual evaluation report (MER) of its systems and framework.
Lower cat losses drive underwriting gains for US property and casualty industry
The private US property and casualty insurance industry saw its net underwriting gains increase to $5.4 billion in the first nine months of 2019, from $4.7 billion a year earlier, according to Verisk, a data analytics company, and the American Property Casualty Insurance Association (APCIA).
Gemini Trust selects Bermuda for first crypto custody captive
Gemini Trust Company, a cryptocurrency exchange and custodian, has launched a captive insurance company, Nakamoto, thought to be the first captive to insure crypto custody.
Liberty GTS unveils contingent legal risk insurance offering
Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has launched a contingent legal risk insurance (CLRI) product, within its global portfolio of transactional risk products and services.
