News relating to the Bermuda and international insurance and reinsurance industry.
Bermuda's historic business bonds with London and potential future synergies through fintech and emerging technologies were key themes of a multi-industry forum in London yesterday.
Hamilton Re has announced that Liam Chan has been promoted to the position of senior vice president, casualty & specialty.
Bermuda is examining every aspect of business carried out on the island as it welcomes investors and other business participants, according to Bermuda’s Premier, David Burt.
TigerRisk Capital Markets & Advisory, the insurance-focused investment banking subsidiary of TigerRisk Partners, has appointed Stephen Fromm as vice chairman.
Fitch Ratings has claimed that Japanese non-life insurance groups Tokio Marine Holdings, MS&AD Insurance Group Holdings and Sompo Holdings have incurred their biggest annual catastrophe loss on record in the first half of the financial year ending March 2019 (FYE19). All three have offices or subsidiaries based on Bermuda.
Autonomous vehicle software provider Oxbotica will commence trials on London’s roads this month following successful ongoing trials in Oxford. During the trials, AXA XL and Nominet will be testing data transfer.
Specialist insurer Hiscox's group claims director Jeremy Pinchin is retiring at the end of February 2019. He will be succeeded by Grace Hanson who will join Hiscox in January.
Bermuda-based Markel CATCo Investment Management has implemented a specific loss reserve to cover the potential losses arising from the 2018 events Hurricane Michael and Typhoon Jebi, while warning of exposure to the California wildfire and a loss creep from 2017 nat cat events.
AM Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating (Long-Term ICR) to “bbb+” from “a-” of Citadel Reinsurance Company.
Marsh, which has a significant presence on Bermuda, has released its Global Insurance Market Index for the third quarter of 2018.