News relating to the Bermuda and international insurance and reinsurance industry.
Peak Re has appointed Andrew Souter as director of markets, responsible for developing its property and casualty reinsurance business.
The Bermuda Monetary Authority (BMA) has cancelled the insurance registration of Phoenix CRetro Reinsurance Company, a special purpose insurer (SPI), for breaches of the Insurance Act 1978 (Insurance Act).
Marshall Shepherd, Parag Khanna, and Shalini Vajjhala will be the keynote speakers at Bermuda Convergence 2020, which runs from October 6-8.
Arch Mortgage Insurance Company (Arch MI), a subsidiary of Arch Capital, has obtained over $449 million of indemnity reinsurance on a pool representing approximately $32 billion of mortgages from Bellemeade Re 2020-2, a special purpose reinsurer.
The retrocession (retro) segment has been particularly badly affected by severe losses from catastrophe events in recent years, and the resulting trapped capital, according to a new report by AM Best.
ILS Capital Management has completed a $57 million offering of 5.50 percent asset-backed notes, a securitisation of the residual value of trust accounts supporting reinsurance contracts, or trapped capital.
Nicholas Jagoda will join Aeolus Capital Management as a partner and portfolio manager once he has fulfilled his obligations with Elementum Advisors where he is currently a partner and portfolio manager.
New issuance spread in the insurance linked securities (ILS) market widened by 20-30 percent due to the impact of the COVID-19 pandemic, according to the latest report on the ILS market by Swiss Re.
Elementum Advisors, the Chicago and Bermuda-based alternative investment manager specialising in collateralised natural event reinsurance, has hired Jeff Davis as senior vice president of investments.
Cat bond issuance was 20 percent higher in the first half of 2020 than in the whole of 2019, according to Aon Securities’ latest Insurance-Linked Securities (ILS) report.