News relating to the Bermuda and international insurance and reinsurance industry.
Guernsey has introduced a new "hybrid" ILS vehicle - a protected or incorporated cell company that is both a licensed insurance company and a regulated investment fund.
ArgoGlobal, Lloyd's insurer and member of Argo Group, has appointed Helen Donegan as head of operations for Europe, Middle East and Asia.
Specialty re/insurer Brit has appointed Kristina Maffit to the property reinsurance team for Brit Global Specialty Bermuda (BGSB) as vice president.
Monument Re, a Bermuda-based reinsurer and acquirer of European portfolios, has entered into a deal to acquire a €140m ($157.2m) portfolio of Irish annuities from Rothesay Life, a UK provider of insurance solutions for pensions de-risking.
Arch Insurance International has made changes to its European operations ahead of Brexit, including expanding the classes of business it writes in the European Union and European Economic Area and adding new offices in the UK, Italy and Denmark.
Property and casualty re/insurance Watford Holdings has begun trading its common shares on the Nasdaq Global Select Market under the symbol WTRE.
In a development sure to catch the eye of the Bermuda insurance-linked securities (ILS) market, CCR Re has set up the first reinsurance sidecar domiciled in France, marking the first ILS vehicle governed by French law.
Oil Insurance Limited (OIL), a Bermuda-based mutual insurance company, declared a dividend in the aggregate amount of $250 million to all of its shareholders despite having a challenging 2018.
In an ongoing dispute, Voce Capital Management, 5.6 percent shareholder of Argo Group, has questioned the legality of the Bermuda re/insurer's appointment of two independent directors, Samuel Liss and Tony Latham, to its board.
Bermuda-based Argo Group has advised shareholders in its scheduled annual general meeting to vote against board nominations and proposals to remove existing board members put forward by 5.8 percent shareholder Voce Capital Management.