News relating to the Bermuda and international insurance and reinsurance industry.
American International Group (AIG) has completed its acquisition of Validus Holdings.
The Reinsurance Association of America (RAA) has welcomed the reported creation of a Bermuda-domiciled cat bond created by the Federal Emergency Management Administration (FEMA).
Reinsurer Haverford Bermuda has announced that its chairman, William Fawcett, has been named a life fellow of the UK-based Institute of Directors.
David Drury and Steven Wilson have each been appointed to the position of senior vice president, underwriting, at Third Point Reinsurance.
Fitch has raised its projection for ultimate all-time US industry incurred asbestos losses from its previous estimate of $90 billion to $100 billion.
The Bermuda Foundation For Insurance Studies (BFIS) has awarded $230,000 in new scholarship funding to 10 students who want careers in Bermuda’s insurance sector.
AM Best has confirmed that its financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” of StarStone Insurance Bermuda and its subsidiaries remain unchanged.
Bermuda’s past and present insurance leaders, as well Government ministers, have spoken about the Island’s potential as a re/insurance market in the coming years at the 25th anniversary leadership forum of the Association of Bermuda Insurers and Reinsurers (ABIR).
The Association of Bermuda International Companies (ABIC) has announced that its diversity & inclusion (D&I) Committee is engaging with business leaders on the Island in an effort to advance dialogue, collaboration and action on D&I within the workplace.
Ascot has created a new US marine insurance team, which is led by Chris Piazza as its executive vice president and head of US marine insurance.