News relating to the Bermuda and international insurance and reinsurance industry.
BMS Group, the independent specialist re/insurance broker, has appointed Jason Stone as managing director of BMS Canada private equity, M&A division, effective immediately.
Members of the Association of Bermuda Insurers and Reinsurers (ABIR) contributed over $830 million to the Bermuda economy in 2019, up $15 million from calendar year 2018.
Peak Re has appointed Andrew Souter as director of markets, responsible for developing its property and casualty reinsurance business.
Ronnie Klein, executive director of Bermuda International Long Term Insurers and Reinsurers (BILTIR), has left the organisation.
Neil Lightbown has joined Everest Insurance as chief underwriting officer of Everest Global Markets, effective October 1.
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).
PartnerRe has appointed Nicholas Hughes as head of retrocession.
Industry insured losses to onshore property resulting from Hurricane Sally will range from $1 billion to $3 billion, according to AIR Worldwide, the catastrophe risk modeling firm.
Arch Insurance International has established Arch Managing Agency (AMA), which is led by Ben Canagaretna who has been appointed as managing director.
The Bermuda Monetary Authority (BMA) registered 13 new insurance entities in August.