News relating to the Bermuda and international insurance and reinsurance industry.
ILS market set to bounce back: S&P
The insurance-linked securities (ILS) market is set to bounce back from the recent drop of interest, according to an S&P Global Ratings’ report.
R&Q makes another acquisition and warns more to come
Randall & Quilter II Holdings, a subsidiary of Randall & Quilter Investment Holdings, has signed an agreement to acquire the entire issued share capital of Sandell Holdings, including its subsidiary Sandell Re.
Sompo creates global transactions group
Sompo Holdings has created a global transactions group (GTG) to take overall responsibility for all M&A, intercompany transactions and joint ventures globally.
ILS Diversified posts negative performance in May
Significant price weakness in the secondary cat bond market saw the ILS Diversified cat bond portfolio deliver negative returns in May, pulling overall fund performance into negative territory.
PwC names the date for insurance summit in Bermuda
The PwC Insurance Summit will take place in Bermuda on November 7, 2019.
Monument Re completes acquisition of Nordben
Monument Re has completed ITS acquisition of Nordben Life and Pension Insurance from BenCo Insurance Holding.
Hiscox underwriting chief retires but retains position on reinsurance and ILS board
Richard Watson is to step down from his role as chief underwriting officer at Hiscox.
NAIC revises credit model rules
The National Association of Insurance Commissioners (NAIC) has revised the Credit for Reinsurance Model Law and Credit for Reinsurance Model Regulation, bringing them into line with arrangements in place for the European Union and United Kingdom.
AIR updates its catastrophe models for Europe and New Zealand
Catastrophe risk modeling firm AIR Worldwide (AIR) has made a number of changes to its risk models.
American Overseas Reinsurance commutes part of its reinsurance portfolio
American Overseas Reinsurance Company (AORC), the operating subsidiary of American Overseas Group (AOG), has entered a commutation, reassumption and release agreement with Assured Guaranty Municipal Corporation (AGM).
