News relating to the Bermuda and international insurance and reinsurance industry.
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.
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 has appointed Philip Vandoninck, its head of international underwriting, to CEO of Socium, its newly branded partnership pillar.
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).
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.
The Bermuda Monetary Authority (BMA) has proposed amendments to the rules governing annual filing requirements for insurers.
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 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 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.
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.