News relating to the Bermuda and international insurance and reinsurance industry.
The Oklahoma Insurance Commissioner has approved the insurance business transfer (IBT) of a portfolio of Sentry Insurance reinsurance policies to National Legacy Insurance Company (NLIC), a subsidiary of Bermuda-based Randall & Quilter Investment Holdings.
Argo Group International Holdings’ sale of Ariel Re to Pelican Ventures and J.C. Flowers & Co has closed.
Arch Insurance International has appointed Jason Page as senior underwriter for hull and war.
Sompo International Holdings has hired Paul Shedden as head of portfolio design, pricing and analytics for global insurance.
The Bank of N.T. Butterfield & Son has appointed Sonia Baxendale to its board as an independent director.
Moody's Investors Service has upgraded XL Bermuda’s insurance financial strength rating to Aa3, from A1 and changed its outlook to stable, from positive.
Shareholders of both Third Point Reinsurance and Sirius International Insurance Group have voted to approve all proposals required to complete their merger agreement.
Re/insurance companies must change their approach to business following the COVID-19 pandemic to help repair the social and economic damage it has exposed, according to Arthur Wightman, territory and insurance leader at PwC in Bermuda.
Hamilton Insurance Group has launched Ada Capital Management, a Bermuda-regulated insurance agent authorised to underwrite on behalf of Ada Re, a newly-formed, Bermuda-registered special purpose insurer.
Strategic Risk Solutions (SRS) has named Matthew Charleson as chief operating officer of fund services and ILS.