News relating to the Bermuda and international insurance and reinsurance industry.
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.
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, the global reinsurance, wholesale and specialty broker, has received regulatory approval from the Bermuda Monetary Authority for its new operation on the island.
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 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 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 will host the second annual International Cyber Risk Management Conference (ICRMC) on December 4 – 6.
Bermuda-based re/insurance provider Hamilton Re has sponsored its first catastrophe bond, through Hamilton Capital Partners.
A number of Bermuda-based reinsurers have entered into relationships with Noblr, the technology-driven, US personal auto insurance company.
American International Group has consolidated its assumed reinsurance operations into a single entity called AIG Re.