News relating to the Bermuda and international insurance and reinsurance industry.
AIG finalises Validus purchase
American International Group (AIG) has completed its acquisition of Validus Holdings.
RAA welcomes reported creation of FEMA cat bond
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).
Haverford Bermuda chairman becomes IOD fellow
Reinsurer Haverford Bermuda has announced that its chairman, William Fawcett, has been named a life fellow of the UK-based Institute of Directors.
Third Point Re appoints new underwriting executives
David Drury and Steven Wilson have each been appointed to the position of senior vice president, underwriting, at Third Point Reinsurance.
Fitch raises US asbestos loss estimate total
Fitch has raised its projection for ultimate all-time US industry incurred asbestos losses from its previous estimate of $90 billion to $100 billion.
BFIS continues funding the future of insurance with new scholarships
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 confirms unchanged StarStone ratings despite sale rumours
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.
ABIR forum hails 25 years of progress
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).
ABIC pushes for greater diversity on Bermuda
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 creates new US marine team
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.
