News relating to the Bermuda and international insurance and reinsurance industry.
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Assets under management in AXA XL's New Ocean hit $1 billion in 2018
New Ocean Capital Management, the ILS fund manager of AXA XL, has increased its assets under management (AUM) to just over $1 billion at year-end 2018, following the the share buyout from AXA XL.
Arch Capital Group reveals new chief risk officer
Arch Capital Group has appointed Janice Englesbe as senior vice president, chief risk officer (CRO).
Former Chubb CUO and 41-year reinsurance vet Bonneau joins PartnerRe board
Bermuda-based re/insurer PartnerRe has appointed Jacques Bonneau to its board of directors.
Ironshore AVP joins Everest property team as director
Everest Insurance, the primary insurance operations of Bermuda-headquartered reinsurer Everest Re Group, has appointed Kevin Flaherty as director of its retail property team in the US East region.
China Minsheng unit liquidity problems no issue for Sirius: AM Best
Bermuda-based re/insurance provider Sirius Group is unaffected by reported liquidity issues at its parent company, China Minsheng Investment Group (CMIG), according to AM Best.
RMS introduces high resolution cat model to tackle US wildfires
In a development relevant to Bermuda re/insurers with wildfire exposure, RMS has created a catastrophe model to better manage wildfire risk in the US, against backdrop of over $30 billion in claims since 2014.
Challenging casualty market leads to ratings downgrade at Allied World Bermuda
An erosion in Bermuda-based Allied World Assurance Company's commercial casualty profitability has lead to a ratings downgrade from AM Best.
Aspen appoints former Brit exec as new CEO as Apollo deal closes
Apollo Global Management has now completed its previously announced acquisition of Aspen Insurance Holdings, and concurrently appointed a new CEO to succeed Chris O'Kane.
Enstar’s Starstone completes four run-off deals with AmTrust Syndicates
Enstar’s Starstone Syndicate 2008, a managing agency and provider of finality for Lloyd’s run-off business, has finalised four run-off deals for Lloyd’s Syndicates managed by AmTrust.
Bermuda adds 19 captives in 2018, writes $40bn in premiums
The Bermuda Monetary Authority (BMA) licensed 19 new captive insurance companies in 2018, bringing the total to 711.
