News relating to the Bermuda and international insurance and reinsurance industry.
Chubb makes an estimated $1.8bn pre tax global cat loss
Chubb has estimated its global net catastrophe loss for Q2 2020 as $1.8 billion million before tax.
Bermuda accounted for nearly 75% of alternative capital capacity in 2018: BMA
Bermuda’s share of total alternative capital capacity was $71 billion at the end of 2018, or approximately 73 percent of the global alternative capital market, according to the Bermuda Monetary Authority’s (BMA) 2019 Alternative Capital Report.
Argo reshuffles senior management and begins hunt for a new CFO
Argo Group International Holdings has launched an outside search for a new chief financial officer to succeed Jay Bullock.
Australian bushfires cost re/insurers $1.3bn in 2019-2020: PERILS
Re/insurance industry losses for Australian bushfires in 2019-2020 came to a total of A$1.86 billion ($1.3 billion), according to PERILS, the independent Zurich-based catastrophe data provider.
Canopius launches cyber property products to help manage silent cyber exposures
Canopius has created a new set of cyber property products for medium and large corporations to help them manage their silent cyber exposures.
United Insurance Holdings announces a $30m cat loss in Q2
United Insurance Holdings Corp, the property and casualty insurance holding company, has announced an estimated $30 million pre tax loss for Q2 2020.
Hiscox launches variable consortium for hard-to-place general liability risks
Hiscox and RKH Reinsurance Brokers have launched a new variable consortium with a maximum line of over $20 million for a wide range of challenging general liability risks such as wildfire, trucking and construction.
Argus acquires two Bermudian primary care medical practices
Argus Group Holdings has acquired two primary care medical practices, Island Health Services and the Family Practice Group.
AXA XL receives approval to form China’s first foreign owned reinsurance subsidiary
XL Insurance (China) Company has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) for a reinsurance license.
BILTIR awards $30,000 scholarship to CedarBridge student
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has awarded a $30,000 scholarship to former CedarBridge Academy student Taiyana Allen.
