News relating to the Bermuda and international insurance and reinsurance industry.
Ironshore introduces SME IT coverage
Ironshore’s professional liability division, IronPro is introducing a Highly Protected Information (HPI) product that will provide IT coverage and specialist assistance to SMEs affected by cyber attacks.
ACE appoints Kopp as COO for Korea
Bermuda re/insurer, ACE has appointed Edward Kopp as its deputy president and chief operating officer for Korea.
Business Bermuda burnishes Island’s credentials in NY
Business Bermuda, the organisation tasked with promoting the Island’s business credentials internationally, hosted its latest annual conference in New York last week on the future of offshore business.
Philanthropy alive and well in the re/insurance sector
Endurance and Tokio Millenium Re (TMR) have both made significant contributions to programmes benefiting children in Bermuda.
Validus moves to acquire Flagstone Re
Validus sources have indicated that the company intends to purchase all issued and outstanding shares from Flagstone Re, with Flagstone shareholders receiving 0.1935 of voting common shares and $2 in cash for each Flagstone share.
Montpelier acquires Torus's property cat re business
Montpelier Re announced on August 19 that it has acquired the renewal rights of Torus’s property cat reinsurance business, with Torus continuing its involvement in the business through a sidecar arrangement.
M&A: turning hostile
Three reinsurers—Berkshire Hathaway following in the earlier footsteps of Allied World and Validus— pursue a deal with New York-based Transatlantic Re in what has become an increasingly acrimonious affair.
Aspen CRO departs amidst management changes
Aspen Insurance Holdings announced that co-founder Julian Cusack will be stepping down from his position as chief risk officer, effective immediately.
Bermuda formations slow for Summer
Bermuda formations slowed somewhat in July to eight new registrations, according to statistics from the Bermuda Monetary Authority.
Hamilton hires Guy Carp exec to break into US
A former Guy Carpenter executive has joined Bermuda based Hamilton Insurance to help the company break into the US market.
