News relating to the Bermuda and international insurance and reinsurance industry.
Conyers Dill & Pearman director David Doyle has resigned from his position on the board of Bermuda-based special purpose insurer Sanders Re.
Markel Corporation has appointed Jed Rhoads and Andrew Barnard to take over management and oversight of Markel CatCo, as CEO Anthony Belisle and Bermuda CEO Alissa Fredricks have left the company.
AlphaCat Managers, the insurance-linked securities (ILS) fund manager subsidiary of AIG, has completed an ILS transaction with Ledger Capital Markets, the MGA entity of insurtech and ILS startup Ledger Investing.
Blue Capital Reinsurance Holdings, a Bermuda-based collateralised reinsurance provider and subsidiary of Sompo International, has updated its fourth quarter catastrophe loss impact to $30 million, net of reinsurance and reinstatement premiums.
New York-based mutual fund firm Rational Funds aims to bring the benefits of insurance-linked securities (ILS) to the mutual fund market with the launch of Context Insurance Linked Income Fund (ILSIX).
Investors that purchased Markel Corporation securities between July 26, 2017 and December 6, 2018, have filed a class action lawsuit against the re/insurance holding company, alleging they were misled regarding the company's financial condition.
Against a backdrop of Californian wildfires and other 2018 catastrophe losses, along with trapped capital from 2017 events has contributed to November being the worst performing month for ILS funds, according to the December ILS market report by ILS Advisers based on the Eurekahedge ILS Advisers Index by Stefan Kräuchi and David Yao.
Lumen Re, the specialist Bermuda-based collateralised reinsurer formerly known as Collateralised Re, and vehicle for LGT ILS Partners, has had its financial strength rating of A (Excellent) affirmed by AM Best for a second year.
Liberty Mutual has completed a $150 million reinsurance sidecar transaction through its Bermuda-domiciled segregated account company Limestone Re.
Specialty re/insurance underwriter Argo Group has renewed its Harambee Re sidecar reinsurer for 2019.