News relating to the Bermuda and international insurance and reinsurance industry.
AM Best has upgraded PartnerRe’s financial strength rating to A+ (Superior) from A (Excellent).
A new reinsurer has formed on Bermuda focused on acquiring active and run-off blocks of annuity business and other forms of long-term life insurance liabilities.
Bermuda-based Sompo International Holdings has announced that Sompo Global Risk Solutions (GRS) has formed a new team offering insurance solutions to smaller businesses in the US and Mexico, including its industry vertical and Asian interest accounts.
Randall & Quilter Investment Holdings (R&Q) has announced the issuance of a loss portfolio transfer reinsurance covering workers’ compensation, product, auto, and general liability risks.
Assured Guaranty has announced that it made a profit of $142 million in the second quarter of 2019, an increase on the $75 million it made in the same period of 2018.
Third Point Reinsurance has announced its second quarter results and has also affirmed Daniel Malloy as CEO.
Assured Guaranty has announced that its subsidiary Assured Guaranty US Holdings (AGUS) has entered into an agreement to purchase all of the outstanding equity interests in BlueMountain Capital Management and its associated entities for a purchase price of approximately $160 million, subject to certain adjustments.
Fidelis Insurance has promoted Simon Crone to the position of chief underwriting officer of Fidelis Insurance Ireland DAC (FIID).
Aspen Insurance Holdings has priced an underwritten public offering of 10,000,000 depositary shares, each of which represents a 1/1000th interest in a share of the Company’s newly designated 5.625 percent perpetual non-cumulative preference shares.
Argo has announced that net income for the second quarter of 2019 was $28.8 million, down on the $41.8 million it reported for the second quarter of 2018.