News relating to the Bermuda and international insurance and reinsurance industry.

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Aerial imagery to deliver faster verdicts for Brit clients


Brit, the specialty re/insurer, has partnered with industry consortium Geospatial Intelligence Center (GIC), a National Insurance Crime Bureau (NICB) initiative, to obtain access to aerial imagery that it says will help it deliver quicker and more accurate resolution to clients.

Bermuda poised to pass Economic Substance Amendment Act


The Bermuda House of Assembly has passed the Economic Substance Amendment Act 2019 (ESAA), exempting entities that are tax resident in a qualifying jurisdiction from the substance requirements of the Economic Substance Act 2018.

Ed comes to Bermuda


Ed, the global reinsurance, wholesale and specialty broker, has received regulatory approval from the Bermuda Monetary Authority for its new operation on the island.

Essent obtains excess of loss reinsurance coverage


Essent Guaranty has obtained $333.8 million of fully collateralised excess of loss reinsurance coverage on mortgage insurance policies written in 2015 and 2016 from Radnor Re 2019-2, a newly formed Bermuda special purpose insurer.

AXIS Re appoints head of business in Australia


AXIS Re has hired Robert Hands as a strategic account executive and head of Australia for AXIS Re Strategic Partners, a business unit serving clients and brokers. Based in Singapore, Hands is responsible for leading global client relationships for strategic partners in Australia, and overseeing all client management activities.

Arch names new head of CRT in its mortgage group

North America21-06-2019

Arch Capital Group has promoted Seamus Fearon to the newly created role of executive vice president of credit risk transfer (CRT) and services, within the global mortgage group (GMG).

Bermuda to host cyber risk management conference in December


Bermuda will host the second annual International Cyber Risk Management Conference (ICRMC) on December 4 – 6.

Hamilton Re sponsors its first cat bond


Bermuda-based re/insurance provider Hamilton Re has sponsored its first catastrophe bond, through Hamilton Capital Partners.

Bermuda reinsurers take stake in Noblr

North America20-06-2019

A number of Bermuda-based reinsurers have entered into relationships with Noblr, the technology-driven, US personal auto insurance company.

AIG restructures reinsurance business under new leadership


American International Group has consolidated its assumed reinsurance operations into a single entity called AIG Re.

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