News relating to the Bermuda and international insurance and reinsurance industry.
California insurance commissioner reveals initial wildfire damage estimate
California’s insurance commissioner Dave Jones has revealed that the recent wildfires in California will cause some $9 billion in insured losses, making them the deadliest and costliest wildfire catastrophes in California's history.
S&P revises AXIS Capital outlook to stable
S&P Global Ratings has revised its outlook to stable from negative and affirmed its 'A-' long-term issuer credit and senior debt ratings on Bermuda-based AXIS Capital Holdings.
First Bermuda ICRMC event hailed as a success
The first Bermudian edition of the International Cyber Risk Management Conference (ICRMC) was held over two days at the Hamilton Princess Hotel & Beach Club in Bermuda.
Benchimol has contract extended to 2023
AXIS Capital Holdings president and chief executive officer (CEO) Albert Benchimol has had his contract extended until December 31, 2023.
Blue Capital Q4 results to be battered by nat cats
Blue Capital Reinsurance Holdings has announced that its fourth quarter results would be impacted by an estimated $17.0 million in catastrophe losses.
Enstar takes part in joint venture
Enstar Group, Allianz and investment firm Hillhouse have announced equity investment commitments in aggregate of $470 million as part of a joint venture to Enhanzed Reinsurance, a Bermuda-based Class 4 and Class E reinsurer.
Apollo-Aspen deal gets shareholder approval
Apollo Global Management's deal to buy Aspen Insurance by funds under management has received the approval of Aspen's shareholders, with the deal expected to close in the first half of 2019.
Athene enters reinsurance deal with Lincoln
Athene Life Re (ALRe), the Bermuda-based annuity reinsurance subsidiary of retirement services company Athene, has entered a block reinsurance transaction with Lincoln Financial Group, where it will reinsure around $7.7 billion of its annuity products.
Sompo creates US cyber team and expands cover
Bermuda-based specialty re/insurance provider Sompo International has introduced a dedicated US team focussed on cyber offerings, along with a new cyber and professional liability product and more risk management services.
First ever Asian sidecar launched in Bermuda
Hong Kong-based reinsurer Peak Re has established the first Asian reinsurance sidecar deal through Lion Rock Re, a recently established Bermuda special purpose insurance (SPI) vehicle.
