News relating to the Bermuda and international insurance and reinsurance industry.
Singapore seeks greater catastrophe resilience through ILS
Singapore aims to strengthen the region’s resiliency against natural catastrophes, and one of the ways it hopes to achieve this is through the use of insurance-linked securities (ILS).
Insurers braced for sharp increase in climate-related litigation
Decisional law relating to insurance for climate change liability is virtually non-existent, but that is set to change soon, according to Adam Krauss, partner at Traub Lieberman Straus and Shrewsberry.
PartnerRe raises $500m in debt issue
PartnerRe Finance B, a subsidiary of PartnerRe, has raised $500m in a US registered public offering of 3.700% senior notes, due July 2 2029.
Reinsurers prepared for average hurricane season
Reinsurers rated by Moody’s are entering the 2019 hurricane season with solid capital positions to withstand potential losses arising from hurricanes, according to the rating agency.
Caterpillar sets up Bermuda captive, could create premium savings of 15%
Setting up a captive could save up to 15 percent on health premiums, according to a panelist at the Bermuda Captive Conference who is looking at using a captive to fund a manufacturing company’s benefits programme.
AXIS Re names head of Lloyd’s casualty reinsurance
AXIS Re, the reinsurance arm of AXIS Capital Holdings, has named Joe Sweeting as head of Lloyd’s casualty reinsurance.
Auto leads way in commercial price increases: Willis Towers Watson
Commercial auto insurance saw double digit price increases reported for the fourth consecutive quarter in Q1 2019, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS).
Argus returns to profitability in 2019
Bermuda multi-line insurer Argus Group reported net earnings of $14.2m for the 2019 financial year, a satisfying result after the net loss of $18.6m recorded in the corresponding period in 2018.
Everest taps Aspen and Conifer to expand excess casualty team
Everest Insurance, a subsidiary of Bermuda-headquartered Everest Re Group, has expanded its retail excess casualty team with the hire of Mike Ludy as director and Erin Bouren as vice president, Western territory.
Tokio Marine HCC appoints marine underwriter
Specialty insurer Tokio Marine HCC (TMHCC), member of the Tokio Marine Group, has appointed Paul Knighton to its marine liability division as marine liability and logistics underwriter.
