News relating to the Bermuda and international insurance and reinsurance industry.
Everest strengthens its Lloyd’s Syndicate team in London
Everest Insurance International has appointed Martin Leeks to its Lloyd’s Syndicate 2786 as a medical malpractice and multi-national / specialty underwriter.
Bermuda Police Service issues arrest warrant for former Hiscox Services CFO
The Bermuda Police Service has issued an arrest warrant for the former CFO of Hiscox services, Yuval Abraham, following a complaint from the re/insurance group.
Investors are under-appreciating risk in structured reinsurance
The market is increasingly factoring in the benefits of structured finance but potentially under-appreciating the risks, according to Jefferies, a US bank, writing in an equity research note on Hannover Re.
Fidelis names CEO of rebranded partnership pillar
Fidelis has appointed Philip Vandoninck, its head of international underwriting, to CEO of Socium, its newly branded partnership pillar.
R&Q signs LPT agreement with two US joint powers authorities
Accredited Surety and Casualty Company (ASCC), a subsidiary of Randall & Quilter Investment Holdings, has signed a loss portfolio transfer (LPT) agreement with Northern California Regional Liability Excess Fund (NCR) and Statewide Association of Community Colleges (SWACC).
MS Amlin snares COO from the Post Office
Global re/insurer MS Amlin has appointed Rob Houghton as chief operating officer. He is expected to start in his role by mid-October and will be part of the executive team, reporting to the CEO, Simon Beale.
BMA proposes additional filing requirements for insurers with alternative capital funding
The Bermuda Monetary Authority (BMA) has proposed amendments to the rules governing annual filing requirements for insurers.
Reinsurers weary on Florida property risk: AM Best
Hurricane losses, assignment of benefits (AOB) issues and adverse loss reserve development may be dampening the appetite of reinsurers for exposure to the Florida property market, according to an AM Best special report.
Assured Guaranty enters co-operation agreement with DTW in Australia and New Zealand
Assured Guaranty Municipal Corp and Assured Guaranty (Europe) (AGE), financial guarantor subsidiaries of Bermuda-based Assured Guaranty, have entered an exclusive co-operation agreement with the Australian independent arranger and advisor, DTW Capital Solutions.
Liberty Mutual raises $240m in ILS and private placements
Liberty Mutual has unlocked around $240 million of reinsurance capacity for its US property catastrophe program and global treaty property reinsurance business via an issue of insurance linked securities (ILS) on its Limestone Re platform.
