News relating to the Bermuda and international insurance and reinsurance industry.
Blue Capital Reinsurance Holdings has filed a Form 15 with the US Securities and Exchange Commission (SEC) to deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934.
The insurance industry has been designated an essential service on the island of Bermuda, following a request by Bermuda International Long Term Insurers and Reinsurers (BILTIR) to the government.
Sompo Global Risk Solutions (GRS), part of Sompo International Holdings, has appointed Michael Carroll as senior vice president and deputy head of life sciences.
Bemuda had 22 confirmed cases of COVID-19 as at Sunday March 29, but is able to trace the origin of each individual case, said David Burt, Bermuda’s Premier.
Sirius International Insurance Group has launched a formal process with a view to selling the company.
Monument Re is set to acquire GreyCastle Holdings, a Bermuda-based reinsurer focused on managing a portfolio of annuity and life risks, and its subsidiaries.
The number of confirmed COVID-19 cases has increased significantly, with eight new cases confirmed by testing on March 26.
The Bermuda market incurred $9.2 billion gross claims in the last three years in relation to wildfires in California, and $9.6 billion in the last two years related to typhoon losses in Japan, according to a report published by the Bermuda Monetary Authority.
Willis Re, the reinsurance business of Willis Towers Watson, has named Dan Melanson as senior vice president and health practice leader.
The Bermuda Captive Conference, usually held in June, has been pushed back to later in the year due to the global impact of the COVID-19 outbreak.